X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

(Read more on the industrial market.)

MONROE TWP., NJ-Principal Real Estate Investors, which is currently constructing a 983,320-sf big-box distribution center on Cranbury-South River Road in the New Jersey Turnpike Exit 8A market here, has hired Cushman & Wakefield of NJ to find tenants. Slated for delivery in late 2007, the building sits on 56.6 acres and 36-foot ceilings. Interior office space will be built to suit.

“This property offers strong institutional ownership, and arguably the best location in terms of new development at Exit 8A,” says Stan Danzig, who is pairing with Jules Nissim to head one of the two C&W teams marketing the asset. The other team is headed by the firm’s Frank Caccavo and Jason Goldman.

“Currently, more than six users with requirements exceeding one million sf are looking for space locally,” Danzig says. “The project will be up and ready by the end of the year, which puts us in a very good competitive position.”

“The market is demanding bigger boxes,” Caccavo says. “This has been common on the West Coast for some time and now is becoming more prominent here in the East. The decision of Principal to move forward with this project on a spec basis reflects confidence in both the product and the market.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.