28D — March 2024 — The Best of 2023 — M id A tlantic Real Estate Journal www.marej.com The LARGEST INDUSTRIAL LEASE of 2023 NAI CIR 1 Keystone Drive Lebanon, PA Cushman & Wakefield 1005 W. Middlesex Avenue Port Reading, NJ Binswanger Mid-Atlantic Crossroads Hagerstown, MD
Size: 2,100,000 s/f Brokers: Chris Pennington & David Binswanger Binswanger was engaged by Conair to assist in the planning, site selection, demographics and labor analytics, brokerage, and lease negotiations. After an extensive multi-state search, Trammell Crow’s Mid-Atlantic Crossroads development was awarded the tenancy. While the site was originally planned as two separate 1 million s/f distribution centers, Binswanger worked with all parties to redesign the plan and assisted in obtaining over $2 million in state and local benefits for Conair. In addition to being one of the largest single-building deals completed in 2023, the new warehouse is expected to become the largest distribution center in Maryland and the largest in the nation for small appliances. Conair will also create 700 new full-time jobs in Maryland over the next 10 years, a significant economic investment in the local area.
Size: 904,572 s/f Brokers: Mindy Lissner, Bill Waxman, David Gheriani, Christine Eberle, Jeff Volpi and Morgan Nitti DSV Solutions is a global leader in the logistics and transportation industry. The acquisition of Panalpina and their continued growth necessitated the need for additional space in their New Jersey warehouse. The relocation of a neighboring tenant enabled DSV to renew at their current location and conveniently expand into the adjacent 230,000 s/f unit. This location at Exit 12 of the NJ Turnpike provides immediate access to Port NY/NJ and provides efficient and flexible solutions for DSV’s customers.
Size: 211,358 s/f Brokers: Jack Shepley, SIOR and Aaron Albright The 211,358 s/f warehouse, located at 1 Keystone Drive in Lebanon has been leased to Mr. Brands, LLC. Mr. Brands will be using the space as an additional ware- house for their growing wholesaler/distributor business. For over 25 years, they have served more than 30 major retailers across the United States. Jack Shepley and Aaron Albright, of NAI CIR, and Jon Gelman, of Gelcor Realty, Inc., represented the tenant in this transaction.
The LARGEST INDUSTRIAL SALE of 2023 NAI DiLeo-Bram & Co. 1900 Lower Rd. Linden, NJ JLL Capital Markets East Hanover Industrial Portfolio East Hanover, NJ NAI James E. Hanson Central Avenue Teterboro NJ
Brokers: Jose Cruz, Marc Duval, Jordan Avanzato, Nick Stefans, and Jason Lundy The portfolio, located along Murray Road consists of over 1.2 million rentable s/f across seven buildings that are fully occupied by 13 tenants. Key asset features include an average clear height of 21 feet and 945 total parking spaces. The properties are located at 901, 903- 906, 601 Murray Rd. and 151 Ridgedale Ave., in the high barrier-to-entry and supply-constrained market of Northern New Jersey.
Brokers: Thomas Vetter & Jeffrey DeMagistris Size: 125,000 s/f – NAI James E. Hanson negotiated the sale of 111 Central Avenue in Teterboro, NJ. NAI James E. Hanson’s Thomas Vetter, SIOR, Jeffrey DeMagistris, SIOR, and Gary Sau - erborn represented the seller, Marschall Partners, LP, in the transaction with buyer, Prologis, Inc. Located six miles from the George Washington Bridge, 111 Central Avenue is a 125,500 s/f industrial building with 18,516 square feet of office space. The property features 15 loading docks, four drive-ins, 14’-16’ ceil - ing height, 25’x40’ columns and ample on-site parking for over 125 cars and nearly 60 trailers. In addition, the property offers convenient accessibility to Routes 17 and 46, Interstate 80 and the New Jersey Turnpike.
Brokers: Chris Galiano Size: 67,355 s/f
NAIDB’s Chris Galiano represented the buyer, Service Truck Tire Center, in the acquisition of this six-acre warehouse/industrial property. Centrally located in this long-time logistics hub and offering direct access to U.S. Route 1, 1900 Lower Rd. features an all-concrete- block façade, 175 on-site paved-surface parking spaces, multiple loading areas and newly renovated office space with a complete rooftop solar system. Built in 1960, the property is the former home base for Turtle & Hughes, one of the nation’s largest independent electrical & industrial distribution companies and the building’s sole occupier for the past 60 years.
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