8C — March 28 - April 10, 2014 — The Best of 2013 — M ID A TLANTIC Real Estate Journal
www.marejournal.com
The LARGEST INDUSTRIAL LEASE of 2013 CBRE Home Depot — 467,987 SF — Cushman & Wakefield NJ 16 Applegate Drive — 751,450 SF —
Size (square footage/acreage): 467,987 sq. ft. Brokers: Bill Waxman, Mindy Lissner
Name of property: 16 Applegate Drive City, State: Washington Township, NJ Size (square footage/acreage): 751,450 SF Broker(s): Frank Caccavo, Jason Goldman, Marc Petrella, Andrew Siemsen Cushman & Wakefield orchestrated a 293,000-square-foot lease for S&S Activewear at 16 Applegate Drive in Washington Twp., N.J., where Matrix Development Group is the landlord. The transaction represented a market expansion for S&S Activewear, an apparel and accessories company headquartered in Chicago.
100 word description of deal: Expanding Intermodal could be coined as the Industrial Phrase of the Year. Home Depot is helping to pave the way for a new era of intermodal usage; reducing their carbon footprint as well as their costs. The success of this deal hinged on the need for outside storage, price sensitivity, and heavy rail capabilities. Home Depot’s decision to remain in NJ has a significant economic and financial impact on the industrial real estate market. As the largest lease to close in NJ during 4Q’13, the terms for this transaction will boost average lease rates and improve occupancy trends.
NAI Hanson 400 Cabot Drive — 396,510 SF —
NAI Summit 3700 Glover Rd — 180,920 SF —
Larken Assoc Hillsborough Business Center — 525,000 SF —
City, State: Hillsborough, NJ Size (square footage/acreage): Hillsborough Business Center is 100 acres of professionally landscaped and managed office style flex warehouse facilities, featur- ing 27 separate buildings providing 525,000 (+/-) sq. ft. of space. Broker(s): [Robert Marek, Executive Vice President Commercial Division and Victor Kelly, Executive Vice President Commercial Division for Larken Associates represent Larken Associates in all transactions] In 2013, Larken Associates leased 229,037 square feet to new or existing warehouse tenants, bringing it to more than 90 percent occupied.
Broker(s): Scott K. Perkins, Barry J. Cohorsky, Ken- neth D. Lundberg Relocation of Distribution Co. from NYC to NJ. NAI Hanson represented Dynamic Marketing Inc (“DMI”), a Brooklyn based Appliance and Electronic Co-operative, in the long term lease of a 396,510 SF warehouse. DMI is a private Brooklyn based Co- Operative, which was founded in 1957 for the purpose of purchasing and servicing appliances and electronics for its members, with the goal of being price competi- tive with big box retailers.
NAI SUMMIT’S MIKE ADAMS LEASES OVER 180,000 SF Allentown, PA, January 31, 2013 – Mike Adams of NAI Summit recently represented the owner, Wood- gate Glover LLC, of 3700 Glover Rd in Easton, PA in the leasing of 181,000 sf of industrial space to Grand River Ironsands. Grand River Ironsands is a privately owned company focused on the ironsands of Labrador first discovered in 1896, which is the process of extracting iron from sand around Happy Valley-Goose Bay.
Rock Commercial 29 Barnhart Dr — 108,000 SF —
Lee & Associates 571 Jersey Ave — 301,600 SF —
Bussel Realty 8 Corporate Place — 143,114 SF —
City: Elmwood Park & Edison State: NJ Broker(s): Rick Marchisio & Crista Bartolomeo Long Island based Wenner Bread Products, a leading producer of frozen dough and bread, signed a long term lease for the entire 301,600 SF industrial facility. Wenner will be converting the building into a state of the art food produc- tion, baking and freezing facility, and will move operations from New York to New Jersey in late 2014. In addition to its many attributes, 571 Jer- sey Avenue provided excellent infrastructure for the conversion, and has active freight rail service. Additionally the town of New Brunswick and surrounding offers an excellent labor pool from which to draw workers.
City, State: Piscataway, NJ Broker(s): Senior Vice Presidents David Blitt & Robert Sager (team) of Bussel Re- alty Corp EDISON, NEW JERSEY (August 1, 2013) – Bussel Realty Corp. (BRC), a leading in- dustrial real estate services firm in New Jer- sey, today announced it has leased 143,115 s.f. at 8 Corporate Place in Piscataway, New Jersey. Senior vice presidents Robert Sager and David Blitt of BRC represented the ten- ant in the transaction.
Broker: Theodore Turnbull Name of property 29 Barnhart Drive City, State Penn Township Size (square footage/acreage) 108,000 Broker(s): Theodore Turnbull 10 year old warehouse with 32’ clear heights, 10 docks, 80 car and 68 trailer parking, and fully air conditioned in Foreign Trade Zone.
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