Industrial Leases, Sale in Central Jersey Underscore Logistics Demand

SOUTH BRUNSWICK, NJ—Two new leases and one sale involving 672,000 square feet of industrial space brokered by Cushman & Wakefield in central New Jersey underscore the continued strong demand for distribution facilities close to the New York metropolitan area.

Properties involved were 380 Dean Rhode Hall Road in South Brunswick and 9 Finderne Avenue in Bridgewater, where space was leased, and 1532 South Washington Avenue in Piscataway, which was sold.  Chuck Fern, executive managing director, led the Cushman & Wakefield team, which also included Jason Barton, vice president.

""Right now, consumer demand is really driving growth for everything from direct to consumer to third party logistics," Fern tells GlobeSt.com exclusively. "Our clients all needed more warehouse space and higher cube facilities in a location easily accessible to major highways."

Everlast Logistics leased 251,000 square feet at 380 Dean Rhode Hall Road. Everlast Logistics is a family owned, full-service logistics company that was looking to expand operations. The owner, Prologis, represented by Jones Lang LaSalle, had a vacancy and worked quickly with Fern and Everlast to move the company into the facility. The building is within a secured site, has 36-foot ceilings and is minutes from Exit 8A on the New Jersey Turnpike. 

Working separately with tenant, Starplast, and the building owner, Bridgewater Ventures, Fern and Barton negotiated a 165,000 square foot lease at 9 Finderne Avenue in Bridgewater, NJ. The distribution warehouse features three drive-in doors, 16 interior docks, 14- to 24-foot ceilings and is close to a rail station just off of Exit 10 of the New Jersey Turnpike. Starplast, one of Israel's leading plastic manufacturers of home, garden and office storage solutions, relocated from 100 Davidson Avenue in Somerset, NJ.

"As demand is increasing the market is responding with new construction," says Fern. "Today, clients are more interested in moving newer, modern facilities."

Fern and Barton represented EVA NJ Realty Associates in the sale of its 1532 South Washington Avenue property in Piscataway to M & J Srour Properties for an undisclosed amount.  The 256,000 square foot facility offers direct access to the New Jersey Turnpike and Garden State Parkway as well easy access to Routes 1, 9, 27, 35 and 22. The industrial property is visible from Route 287, is fully fenced and secured with 16 loading docks and ample parking.

"The Exit 8A and Exit 10 submarkets continue to demonstrate strength in the market due to the close proximity to major highways and transportation hubs," Fern says. "We were able to match clients business needs to available properties creating a solution for both tenants and owners."