30A — May 11 - 24, 2012 — New Jersey — Mid Atlantic Real Estate Journal
C entral N ew J ersey
RANBURY, NJ — A lease expansion for one tenant at 324 Half Teams from CBRE represented the two tenants in the recent transactions Danzig & Nissim of Cushman & Wakefield broker leases totaling 60,000 s/f at Cranbury property C Hardware and housewares manufacturer Howard Berger Company added 60,000 s/f to
Cushman &Wakefield’s Stan Danzig and Jules Nissim, based at the firm’s East Rutherford of- fice, represented US Industrial REIT II in both transactions. As marketing agents for the property, they also brokered Howard Berger Company’s and Kuehne &Nagel’s original leas- es at the property in 2008 and 2007, respectively. Teams from CBRE represented the two ten- ants in the recent expansion and reduction/extension. “Kuehne & Nagel’s lease was coming up for renewal, and they had some surplus ac- commodations,” Nissim said. “At the same time, Howard Berger Company required ad- ditional space. The timing and the square footage worked out perfectly. Some compromise and a lot of flexibility from both tenants, and creativity on the part of USAA Real Estate Company came together to implement what really is an ideal solution.” Danzig and Nissim’s involve- ment with 324 Half Acre Road dates back more than a decade. The 55-acre parcel was part of a 115-acre campus that Church & Dwight inherited upon ac- quiring Carter Wallace’s con- sumer products division in 2000. Soon after, Church & Dwight retained the Cushman & Wakefield team to dispose of the property. The assignment ultimately resulted in the campus’ bifurca- tion into four subdivisions for multiple buyers. Danzig and Nissim arranged Rockefeller Group Development Corpora- tion’s (RGDC) purchase of the 324 Half Acre Road parcel in 2006. RGDC subsequently ap- pointed the team as exclusive agent for the new construction, which replaced obsolete lab and office/manufacturing build- ings on the site. In addition to brokering the Keuhne & Nagel and Howard Berger Company leases, Danzig and Nissim also served as part of the team that orchestrated the 2008 sale of 324 Half Acre Road fromRGDC to US Industrial REIT II. “With its modern accommo- dations, Foreign Trade Zone status and visibility from the New Jersey Turnpike, 324 Half Acre Road has successfully at- tracted two solid credit tenants as well as a reputable owner,” Danzig said. “It truly is gratify- ing to see the property succeed in its second iteration. We are pleased to be part of its contin- ued success story.” n
its long-term commitment, bringing its h e a d q u a r - ters opera- tion at 324 HalfAcre Rd. to 297,000 s / f . At the same time, logistics gi-
Acre Rd. in C r a n b u r y and a reduc- t i on/ exten- s i on f o r a second has secured the b u i l d i n g ’ s c o n t i n u e d full occupan- cy, announced
commercial real estate services firm Cushman & Wakefield, Inc. US Industrial REIT II owns the 680,000 s/f, class A distribution facility.
ant Kuehne & Nagel, Inc. de- creased its space at the build- ing by that same amount and extended its multi-year lease, which now totals 383,000 s/f.
324 Half Acre Rd.
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