The first lease is for just over 203,500 sf of distribution space for the Teaneck, NJ-based Rand Direct Inc., a manufacturing and packing company that is involved in co-packing displays for its parent company, Rand Display International. Rand's new building is situated in Edison, NJ, where ProLogis owns more than 1.5 million sf of distribution space.
"We were in search of a facility that would help us streamline our co-packing and distribution operations," explains David Kauffman, CFO of Rand Direct. "ProLogis offers us a regional supply-chain solution.
The second signing is with Adjmi Apparel Group, a children's apparel maker, which took a total of 230,565 sf in ProLogis Park Cranbury, a master-planned park located at Exit 8A of the New Jersey Turnpike. ProLogis, which has its New Jersey regional office here, owns and manages seven facilities totaling more than 1.9 million sf in the park. Other tenants include Anixter Inc., ConAgra SpiceTec, Graybar Electric, Waterford Wedgewood, Main Tape and GE Appliances.
"Adjmi Apparel Group has its corporate headquarters in New York City, which is critical in terms of maintaining relationships with our buyers, but not economically sound for manufacturing and distribution facilities," explains Eli Seruya, the company's CFO. "Cranbury allows us to remain competitive in our industry while maintaining proximity to our key target markets."
"These facilities are located adjacent to very important distribution routes that enable companies to meet their distribution requirements," says John Hanlon, first vice president of ProLogis, whose Garden State presence now totals more than 6.6 million sf of space.
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