Colliers Arranges 189,000 SF of Industrial Leases

PENNSAUKEN, NJ-First Industrial Realty Trust and Interstate Holding Co. have major new tenants in two of their respective buildings, with total space consideration amounting to more than 189,000 sf. Both deals were arranged by the industrial division of Colliers Lanard & Axilbund of Philadelphia, with that firm's Marc Isdaner handling the two signings.

In the larger of the two signings, Lyons & Sons Inc., a food wholesaling company based in Moorestown, has taken the entire 111,240-sf First Industrial-owned building at 8290 National Highway here. The company will utilize the space for the storage of cocoa beans for its customers in the wake of the deal, arranged by Isdaner as the sole broker. Terms were not released. The building includes a 3,000-sf office component.

As reported by GlobeSt.com, the Chicago-based First Industrial bought the building, which sits on a 4.4-acre site, this past September as part of a five-building portfolio acquired from a joint venture of ELJO LLC and Hylton & National Associates. The five South Jersey buildings totaled 380,000 sf, and Isdaner similarly arranged the sale transaction. All five buildings, including 8290 National Highway, are located near First Industrial's existing holdings in Pennsauken Industrial Park.

In the second of the latest leases, Vertis Inc. has taken the entire 78,000-sf freestanding building, including 7,000 sf of office space, at 180 Heller Place in Korman's Interstate Business Park in Bellmawr. Colliers L&A's Isdaner represented the lessor, Interstate Holding Co., in the deal. Vertis, a Baltimore-based communications firm that has existing Garden State locations in North Brunswick and Newark, will use the building for mailing and fulfillment services. Terms of the Vertis signing were similarly not released.