IESG/Buschman Gets Nod for 662,300 SF

In the first assignment, IESG & Buschman Partners has been picked to lease 339,000 sf in two buildings at the Cedar Lane Industrial Park at Exit 6A of the New Jersey Turnpike in Florence Twp., Burlington County. The 204,000- and 135,000-sf properties have been revamped with new roofs, loading docks and levelers.

Also in Burlington County, Benetton Sportsystem has hired the firm to lease its 185,000-sf distribution center located at Exit 7 of the Turnpike in Bordentown, at the confluence of the superhighway's interchange with I-295, accessible to the Pennsylvania Turnpike. The property includes 40,000 sf of office space and 145,000 sf of distribution space.

The other assignments include the appointment by JDS Uniphase to sell its 72,300-sf high-tech building in Ewing Twp., near Princeton. The final property is a 66,000-sf combined office/production facility in Lawrenceville, owned by a local private investment group.

"Leasing activity in the industrial, warehouse and distribution sectors is currently very strong in this market," according to Tolcash. "We expect that each of these facilities will be leased or sold in a relatively short period of time. These are high-quality blocks of space."

Insignia/ESG & Buschman Partners is the result of the strategic alliance, in May 2001, of Buschman Partners, a long-time major player in the Princeton-area market, with Insignia/ESG of New Jersey. The latter is based in Saddle Brook and has a Central New Jersey office in East Brunswick. The formal alignment is considered a major step toward a full merger between the firms.

Last year, IESG/Buschman, as a separate entity, sold or leased more than 1.5 million sf of industrial space, according to Tolcash. Those transactions had an aggregate value of more than $40 million.