Real Estate Journal — Industrial / Distribution Centers — May 26 - June 8, 2017 — 15C
M id A tlantic
I ndustrial R eal E state & D istribution C enters Two major leases bring business park to full occupancy CBRE Group Inc. negotiates 450,000 s/f of leases at Middlesex Center S OUTH BRUNSWICK, NJ — CBREGroup Inc. announced that it has
Beyda. “To facilitate lease-up in a more timely manner, we utilized the latest technologies, including virtual reality tours, to draw greater interest from local and national prospective tenants. We ultimately decided to divide the building into a multi-tenant facility, and IDI Gazeley was able to pursue the subdivisions without a hitch. These leases also mean that all three buildings at Middlesex Center are now fully occupied, providing further evidence of the continued strength of New Jersey’s industrial market.” Situated just off of the New Jersey Tpke. in South Bruns-
wick, 301 Middlesex less than 30 miles away from the ports of New York / New Jersey and Newark International Airport. The property includes best-in- class features, including 36-foot ceiling heights, ESFR sprin- kler systems and cross-docked loading. The Middlesex Center also boasts several prestigious tenants, including Williams- Sonoma. “CBRE had some unique marketing concepts that helped lease the building within only six months of the assignment,” said Doug Armbruster, senior VP and regional director of IDI Gazeley’s East Region. n
continued from page 14C Pondering President Trump’s trade policy . . . largest export market as well as a driver of the industrial- related warehouse demand in this country – and concludes that China remains too impor- tant of a trade partner for the U.S. to engage in a trade war. “China’s growing consumer class will exceed the entire U.S. population by 2026,” said Tolliver. “Similarly, when you consider the impact of increased cross-border trade flows between Canada, Mexico and the U.S. since NAFTA, it seems unlikely the U.S. would withdraw.” All three NAFTA partners recognize the need to update the agreement, Tolliver noted. However, the Cushman & Wakefield report notes that U.S. trade with Canada and Mexico has increased more rapidly than with any other countries since the signing of NAFTA in 1995, and U.S. ware- house inventory has increased by a net of 3.5 billion s/f. Tolliver authored the latest Cushman & Wakefield indus- trial research with colleagues Carolyn Salzer, Tina Aram- bulo and Jason Price . n “Exit 8A is one of New Jer- sey’s hottest submarkets for industrial property, and this class A facility provides an ideal location for premier third- party logistics providers like CDS and Best Logistics,” said facilitated 450,000 s/f of leases at 301 Middlesex Center Blvd., a class A industrial building lo- cated within the three-building Middlesex Center in South Brunswick. The transactions bring the newly constructed, speculative facility to full oc- cupancy, and include a 250,000 s/f lease with CDS Logistics and a 200,000 s/f lease with Best Logistics. The CBRE team of Steven Beyda, Mindy Lissner and Scott Belfer arranged the transaction on behalf of land- lord IDI Gazeley, a developer and investor of industrial real estate. The CBRE team of Ste- ven Beyda, Kevin Dudley and William Waxman rep- resented Best Logistics. CDS was represented by Joe Nitti of Cresa .
301 Middlesex Center Blvd.
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