Jonathan B. Schultz, president/CEO, and Edward R. Horne, director of the Schultz Organization/TCN Worldwide, Woodbridge, NJ, arranged the lease on behalf of owner NJMA. Earlier this year, Schultz signed a contract to manage and lease NJMA's portfolio, which amounts to some 908,000 sf of industrial and office space. Earl Lapides of Bussel Realty Co. of Edison, NJ spoke for the tenant.
"We continue to see exceptional results in the marketplace despite the slower economy and the soft real estate market," according to Schultz. As far as the Faltings Enterprises lease, "they chose this facility due to accessibility to Routes 1 and 18 and the New Jersey Turnpike," according to Schultz.
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