Ford Signs Lease for 300,000-SF Dist. Center

It's not as big as Volkswagen's new one million-sf W/D complex in the same market, opened just two years ago, but at 300,000 sf, Ford's new complex will be a major presence on the landscape here. The state-of-the-art facility will serve as the company's parts distribution center for the tri-state region.

The deal was put together by first vice presidents Bill Waxman and Mindy Lissner, senior associate Nick Nitti and associate Carrie Brown of the East Brunswick, NJ office of CB Richard Ellis. CBRE makes its home base in Saddle Brook, NJ.

Combined, the CBRE quartet repped both Ford and the owner/developer of the facility, the Parsippany, NJ-based Sudler Cos. Terms of the transaction were not disclosed. Industry sources put the construction cost of the facility in the $20 million range. "We conducted a thorough site selection process on behalf of Ford," says Waxman. "This was also an ideal build-to-suit solution from Sudler."

Waxman and Lissner's industrial teams have been involved in a number of transactions recently in the Garden State, including deals for Church & Dwight, Federated Department Stores (Bloomingdale's, Macy's, etc.), CalEast/CALPERS, AT&T Wireless and Mary Kay Cosmetics.