(To read more on the industrial market, click here.)

WOODBRIDGE, NJ-Kenco Group Inc. has signed a full-building lease for the new 341,500-sf industrial building at 255 Blair Rd. here. Kenco, a Chattanooga, TN-based third-party logistics company, will use the site as a distribution center for a national producer of dry wall and construction materials. The Edison-based Adler Development owns the building and is completing it to Kenco’s specs this fall. As reported by GlobeSt.com, Adler started construction of the building on a spec basis in 2005 after buying the site from Ecolab in 2004.

“Our leasing of the entire facility was consistent with our leasing effort,” says Joshua Adler, a partner at Adler Development. “I saw the greatest value in this building as a single-user site to allow for someone to take advantage of the trailer parking and rail capabilities.”

Kenco’s new facility has a 36-foot clear ceiling height, according to Adler. Also part of the package is an ESFR sprinkler system, 68 tail-board loading docks, parking for up to 120 trailers and freight rail services.

In terms of the lease, Mindy Lissner, senior vice president, and first vice president Lou Belfer of CB Richard Ellis’ East Brunswick office represented Kenco. Adler Development was represented by Gary Green, a partner of Resource Realty of Central New Jersey, Edison. Terms were not released.

Previous site owner Ecolab shuttered its cleaning products manufacturing operation in 2002, paving the way for Adler Development’s acquisition of the property for an undisclosed price two years later. Prior to construction of the new facility, which began in October 2005, site work by Adler included demolition of the existing 235,000-sf Ecolab manufacturing facility and an extensive remediation of the site’s contamination, according to Adler.

Adler Development currently maintains a portfolio of 1.5 million sf of warehouse and flex space in Central New Jersey, and also owns 800 multifamily residential units. “We are currently expanding our portfolio with ground-up development and the rehabilitation of older facilities, including multiple brownfields projects,” Adler says. “Our goal is to have a continuous pipeline of activity to attract new tenants as well as to meet the needs of our existing client base.”

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