12B — February 12 - 25, 2016 — New Jersey — M id A tlantic

Real Estate Journal


C entral N ew J ersey

Achim Importing Co. relocates NJ operations to 1240 Cranbury South River Road Colliers International arranges 182,000 s/f sublease for displaced home goods trading co.


Cosmetic Essence Innovations (CEI) at 1240 Cranbury South River Rd. in Cranbury. T h e f i r e

approached the Colliers In- ternational team of executive managing director Michael Markey and executive man- aging director Jonathan Tes- ser to identify a temporary space for its New Jersey op- erations. Colliers immediately con- ducted a strategic market search, and within two weeks was able to finalize a short- term transaction on behalf of Achim Importing Co. With assistance from GLP, owner of 1240 Cranbury South River Rd., anchor tenant CEI agreed to sublet 182,000 s/f of its ex-

cess space in the building. Achim Importing Co. moved into its sublet space in August at the 846,000 s/f facility, located within the Exit 8A submarket. “It was deeply gratifying to help Achim Importing Co. quickly find and secure this space, which is located in close proximity to their original fa- cility and was a rare leasing opportunity, particularly in this size category, within New Jersey’s tight industrial mar- ket,” Markey said. “We appre- ciate the efforts of all parties involved in this transaction ––

particularly Leslie Lanne from GLP, who was instrumental in its success –– as we negotiated acceptable terms for both sides and promptly moved the sub- tenant through the certificate of occupancy process.” Tesser added that the short- term sublease was the ideal solution despite unfortunate circumstances. As Achim Im- porting Co. proceeds with its operations at its new, tempo- rary location in Cranbury, the company will be simultaneous- ly developing a new, 600,000 s/f, class-A facility at the site of its destroyed warehouse at 1600 Livingston Ave. in North Brunswick. The development is projected for completion within the next two years. n CBRE Group Inc. arranges sublease with Garden state Cold Storage CARTERET, NJ — CBRE Group Inc. announced that it has arranged a sublease with Garden State Cold Stor- age at a 278,900 s/f class A distribution center in Cart- eret. The facility is located at 580 Port Carteret Dr., sitting on 13.5 acres within Port Carteret. CBRE’s Supply Chain and Logistics team of William Waxman , executive vice president, Mindy Lissner , executive vice president, Ste- ven Beyda , first vice presi- dent, Kevin Dudley , senior associate, Robert Pine , se- nior associate, David Gh- eriani , associate, Jennifer Ferrara , client services spe- cialist, and Susan Strauss- Rickwalder , client services specialist, represented both the subtenant and the origi- nal tenant, C & S Wholesale Grocers, in the transaction. “When called upon by our long standing client, C&S Wholesale Grocers to assist with the disposition of their unique asset, in a market short on existing cold storage distribution centers, we im- mediately saw this as an op- portunity to service both C&S and Garden State Cold and Storage” said Beyda. “With its new space, Garden State Cold Storage will benefit from the distribution center’s state of the art freezer design, exceptional amenities and ideal location within one of New Jersey’s most active port submarkets.” n

RANBURY, NJ – As part of an urgent transaction finalized in

just 15 days, Colliers In- ternational has arranged a m a j o r wa r ehous e r e l o c a t i o n on behalf of global home goods trad-

d e s t r o y e d Ach im Im- porting Co.’s owned facil- ity at 1600 L i v i ngs t on Ave. in North Br un swi c k this summer,

Michael Markey Jonathan Tesser

creating an immediate need to find replacement warehouse space to accommodate the backlog of goods. Achim Importing Co. then

ing company Achim Importing Co. Displaced due to a fire that engulfed its existing facil- ity, Achim Importing Co. has since sublet 182,000 s/f from


Commercial Real Estate Brokerage

Bradley Beach, NJ 23 Units Daniel Lanni ext 248

Irvington, NJ 49 Residential Units Jonathan Greenberg ext 258

Allentown, PA 78 Vintage and Contemporary Residential Units Robert Holland ext 285

Morganville, NJ 102,000± SF Flex Warehouse 36,000± SF 2nd Floor To-Be-Built Daniel Lanni ext 248 Matt Weilheimer ext 253

Paterson, NJ 8,900 SF Industrial Building Julie Gralla ext 224

Lodi, NJ 50 Residential Units Andrew Scheinerman ext 247

Investment Sales Commercial Sales and Leasing

www.kislakrealty.com 732 750 3000

The Kislak Company, Inc.

Made with FlippingBook - Online catalogs