Cushman & Wakefield EMD Fern Sees Continuing NJ Industrial Momentum

Charles Fern, executive managing director, Cushman & Wakefield, and rendering of 1075 KIng George Post Road, Edison, NJ

ISELIN, NJ—Big-box leasing and high demand for new construction continue to define the New Jersey industrial market heading toward mid-year 2017, according to Cushman & Wakefield’s Charles Fern. An executive managing director and senior supply chain specialist based in Cushman’s Iselin office, Fern is seeing continued record demand following a high-volume 2016.

Among the state’s largest year-to-date industrial leases, Fern and colleague Jason Barton served as tenant representatives for a large footwear company in its 608,000-square-foot commitment at GLP US Management’s 1240-1248 Cranbury South River Road in Cranbury. “This property is located directly off Exit 8A of the N.J. Turnpike in the state’s most desirable location for big-box users,” Fern says. “First quarter transactions, completed by Fern’s team, saw leases totaling over 1.3 million square feet. Other notable lease transactions included 92,000 square feet with Federal Business Center in Edison, 82,000 square feet with TA in Woodbridge, 145,000 square feet with Teeway Transportation (Gary Casaletto, director was part of the team) and represented Green Point in the leasing of 10 acres in Newark.