14 — November 2024 — Central New Jersey — M id A tlantic Real Estate Journal
www.marej.com
C entral N ew J ersey Monica Franco of Lee & Associates assists the tenant in South Brunswick transaction JLL’s Politi & Viera represent Woodmont and Sagard Real Estate in 104,451 s/f industrial lease
OUTH BRUNSWICK, NJ — Woodmont In- dustrial Partners (Woodmont) and Sagard Real Estate executed a 104,451 s/f lease at 461 Ridge Rd. in South Brunswick. The tenant, Federation Distri- bution Services, Inc., will occupy half of the recently renovated warehouse and distribution facility on a 65-month term. JLL’s Gary Politi and Michael Viera represented Woodmont and Sagard Real Estate, while Monica Franco of Lee & Associates represented the S
Gary Politi
Michael Viera
Monica Franco
tenant in the transaction. In June 2024, Woodmont and Sagard Real Estate com- pleted a multi-million dollar, dual-stage capital redevel- opment and improvement
program at the property. The first stage included substan - tial upgrades to the existing 144,000 s/f industrial facil- ity, featuring a new ESFR system, LED lighting, office
461 Ridge Rd.
appendages, new dock doors and full packages. The second stage involved constructing a 65,000 s/f expansion from the ground up, increasing the property’s footprint to 209,000 s/f of class A space. “The Exit 8A submarket is one of the premier indus- trial submarkets in the Tri- State Area,” said Anthony Amadeo , executive vice president of Woodmont. “Its prime location, with access to 33% of the US popula- tion within a 24-hour drive, makes it ideal for companies expanding in the Northeast. We’re pleased to welcome Federation Distribution Ser- vices to 461 Ridge Road, and we look forward to continu- ing to deliver industrial properties that meet the persistent tenant demand in the Turnpike corridor. In addition, we truly value our relationship with Sagard and the ability to seamlessly work together to ensure the success of our projects.” Federation Distribution Services, Inc. has provided third-party logistics services in New Jersey and California for over 45 years. The facility at 461 Ridge Rd. will support the company’s warehousing and distribution operations while expanding its foot- print in New Jersey to over 500,000 s/f of warehouse and distribution space. “The rapid lease-up of 461 Ridge Rd. demonstrates Wood- mont and Sagard Real Estate’s expertise in redeveloping as- sets to meet the needs of to- day’s tenants,” said Camila Grello , managing director, asset management at Sagard Real Estate. “We appreciate Woodmont’s partnership and are proud to celebrate the suc- cess of our fourth industrial project together.” MAREJ
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