In the largest of the three separate transactions, HVAC equipment manufacturer Trane, a division of American Standard, has taken a total of 153,808 sf of warehouse/distribution space. American Standard is a repeat ProLogis customer, leasing a total of 186,000 sf at the developer's properties in Dallas, San Antonio and Juarez, Mexico, according to Lisa Clark, ProLogis' market representative.
In the two other signings, Mailcon, a US mail and freight consolidator, is taking 145,600 sf at ProLogis Park Cranbury, again for warehouse/distribution purposes. And Christian Casey, a distributor for Sean John, the popular line of men's and boys' apparel, is signing on for a total of 84,056 sf. The terms of the leases were not disclosed.
"This submarket has become one of the most strategic locations in New Jersey, with easy access to the rest of New Jersey, New York City and Philadelphia," says Hanlon, referring to the industrial market surrounding Exit 8A of the New Jersey Turnpike. The Aurora, CO-based ProLogis has its New Jersey offices here as well.
And with full occupancy of the existing space at ProLogis Park Cranbury, the company is moving ahead with construction of the final facility for build-out of the site, according to Hanlon. The company began construction last week of an additional 134,400 sf of distribution space on spec, with that facility expected to be completed by the end of the year.
Located northeast of Trenton, NJ, the master-planned ProLogis Park Cranbury has a tenant/user roster that includes GE Appliance Group, Con Agra, Graybar Electric and Anixter.
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