4B — February 10 - 23, 2017 — New Jersey — M id A tlantic

Real Estate Journal


N ew J ersey

Perkins, Somple and Todd ink 49,140 s/f industrial building NAI James E. Hanson negotiates lease renewal for third party fulfillment company in Hackettstown H ackettstown, NJ — NAI James E. Han- son negotiated a 70,200

s/f industrial lease at 103 Bilby Rd. in Hackettstown. NAI Han- son’s Barry Cohorsky, SIOR , and James Kenah represented the landlord, Compac Corp DBA Trimas Corporation, in the lease renewal transaction to Logical Warehousing, LLC. The tenant was represented by Steve Sander of CBRE . 103 Bilby Rd. is a 182,000 s/f warehouse/flex property that includes 23,571 s/f of office space, seven loading docks and 139 parking spaces. Located

103 Bilby Rd.

19 Central Blvd.

seven miles from I-80, the in- dustrial space provides superior access to customers throughout New Jersey, Pennsylvania and New York. With the continued growth of e-commerce, the space will allow Logical Warehousing LLC to continue to expand its third-party logistics business to further meet the growing needs of its customer base. “For landlords in today’s market tenant retention can be vital for sustaining occupancy rates,” said Cohorsky. “We were able to negotiate with the existing tenant to renew their lease to continue to occupy a facility that meets all of their current warehousing needs while providing our client with continued cash flow on their investment.” South Hackensack, NJ — NAI James E. Hanson has brokered the sale of a 49,140 s/f industrial building at 19 Central Blvd. in South Hackensack. NAI Hanson’s Scott Perkins, SIOR, CCIM , Andrew Somple. SIOR , and Christopher Todd repre- sented both the seller, Pelrine Children’s Irrevocable Trust, and the buyer, Pocas Interna- tional, in the transaction. NAI Hanson was the listing agent for the property. “We continue to see a trend of businesses looking for func- tional industrial space in the Meadowlands submarket to expand operations and deliver products quickly to custom- ers,” said Perkins. “This sale exemplifies that trend and will let the buyer be closer to its main customer base east of the Meadowlands while en- suring access to new markets enabling its business to grow. We pride ourselves in our ability to negotiate a mutually beneficial agreement for both parties.” n

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