The first transaction marks a milestone for the 75-year-old company, which will be moving its corporate headquarters across the river from Bensalem, PA to 101 Commerce Dr. in this South Jersey community. The company will occupy all of the 64,700-sf building, which is owned by Mack-Cali Realty Corp. of Cranford, NJ. The asset is situated within Mack-Cali's Moorestown West Corporate Center, a 25-building, 1.2-million-sf business campus. Terms of the lease were not disclosed.
In a parallel deal, Jack & Jill signed a lease to occupy a total of 62,000 sf of industrial space within the Commodore Business Center in Logan Township, also in Southern New Jersey. The company will similarly occupy all of the building, which is being done as a build-to-suit by developer Liberty Property Trust of Malvern, PA. Jack & Jill will utilize its new space as a regional distribution and freezer facility, as well as an operations center. Terms of the deal were similarly not disclosed.
"We were able to meet all of Jack & Jill's needs in both of these transactions," says Knowles, who also reached out to LJ Melody, a CBRE subsidiary, to help secure financing for the build-to-suit project. "These locations fulfilled their various office and distribution needs and also offered access to their current employee base and other Jack & Jill branches."
Jack & Jill Ice Cream Co. supplies its products to the Mid-Atlantic region through its foodservice division (to restaurants), its retail division (to supermarkets and convenience stores) and through street vending and vending machines.
© Arc, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to TMSalesOperations@arc-network.com. For more information visit Asset & Logo Licensing.