M id A tlantic Real Estate Journal — March 27 - April 9, 2020 — The Best of 2019 — 5C
The BEST of 2019 The LARGEST INDU RIAL LEASE of 2019
Duke Realty 315 Half Acre Road Cranbury, NJ
Colliers International-PA CarbonLite Berks 61, Muhlenberg Twp., PA
Crow Holdings Industrial Crow Holdings at Veronica Ave. Franklin, NJ
Size: 270,000 SF Lease, $80M new build to suit construction Brokers: Mark Chubb, Michael Zerbe and Summer Coul- ter In 2019 Colliers’ logistics team of Mark Chubb, Michael Zerbe and Summer Coulter assisted California-based manu - facturer Carbon Lite in its East Coast expansion with a new 270,000 SF lease with Landlord Endurance Real Estate Group. Build to suit construction of its new $80 million recycling plant at “Berks61” in Muhlenberg Township, Berks County is nearing completion, with tentative opening planned for February of 2020. The operation is expected to bring more than 130 jobs to the Reading area. CarbonLITE is the largest producer of food-grade Post-con - sumer Recycled PET in the world, its’ existing facilities pro - cess more than four billion plastic bottles annually. Pennsyl - vania’s plentiful blue-collar labor force was a deciding factor for CarbonLITE, putting the keystone state at the forefront of the green revolution - preserving resources and reducing the nation’s carbon footprint from PET bottle production.
Size: 925,000 SF Brokers: Cushman & Wakefield Vice Chairman Stan Danzig and Associate Kimberly Bach represented ownership, while C&W Executive Managing Director James Frank and Vice Chairman Jules J. Nissim rep - resented LG. Crow Holdings at Veronica Ave is a true trendsetter. With determination and creativity, Crow Holdings Industrial de - veloped a 925,000 SF warehouse property in a location that caters to industrial employees. LG was looking to consoli - date two NJ locations, but one of its lease agreements had several years remaining. To consummate the lease, Crow Holdings Industrial moved ahead with a creative lease agreement that assumed LG’s responsibility to its existing space, and enabled the global technology manufacturer to move all of its operations to a single location at Crow Hold - ings at Veronica Ave.
Size: 650,123 SF Renovated
Brokers: Tenant: Jules Nissim/Cushman & Wakefield Landlord: Mindy Lissner/CBRE, Steven Beyda/CBRE When Duke Realty acquired 315 Half Acre Road in 2013, it was fully leased to a home goods retailer. Upon finding out that the tenant would not be renewing its lease, Duke Realty immediately began a search for a new tenant to backfill the space. A lease was signed with Cooper Friedman Electric Supply for the entire 650,123 SF building, allowing Duke Realty to maintain full occupancy. With 315 Half Acre Road, Duke Realty was able to meet Cooper Friedman’s de - sire for a large block of space near I-95, giving it convenient access to its distribution network across the tri-state area.
The BEST INDUSTRIAL PROJECT of 2019 REDCOM Design & Construction LLC Straight Edge Striping Duke Realty Steel Run Logistics Center Perth Amboy, NJ
STEEL RUN LOGISTICS BUILDINGS 1 & 2 225 Elm Street, Perth Amboy, NJ 08861
Steel Run Logistics Building 1
Steel Run Logistics Building 2
Size:1,253,893 SF on 83 Acres Brokers: Tenant: Tony Kepano/CBRE, Mindy Lissner/CBRE
Size: 20,990 SF Straight Edge Striping is one of our completed, industrial facilities located in Middlesex, New Jersey. The REDCOM team completed a full design-build of this office, manufactur - ing and warehouse facility. Our in-house professionals worked on all of the civil engineer - ing drawings, local and state approvals and the architectural designs and drawings. RED - COM also performed the general construction and interior design work, which included computer 3-D imaging. This ground-up project consisted of the construction of a 20,900 SF building, including a 16,766 SF first floor, a 1,624 SF mezzanine and a 2,600 SF storage canopy. This industrial facility is now home to a road striping and sign painting company.
Landlord: Chuck Fern/Cushman & Wakefield, Thomas Tucci/Cushman & Wakefield Steel Run Logistics Center is a two-building distribution hub, with both buildings leased by The Home Depot. Each of the buildings are build-to-suit facilities and incorporate features to meet the tenant’s exact specifications. The combined lease is for 1,253,893 SF including 332,808 square feet for building 1 and 921,085 SF for building 2. This transaction represents the larg - est lease in Duke Realty’s nearly 50-year history. The site where the buildings are located was formerly home to a steel manufacturing plant and is being fully remediated and redeveloped.
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