S hopping C enters C entral NJ S potlight
M id A tlantic Real Estate Journal — Central New Jersey — February 19 - March 12, 2021 — 7B
www.marej.com
Warren with Atlantic Real Estate Services represent leasee Dermody Properties leases 608,442 s/f in New Jersey to National Tree Company
AST WINDSOR, NJ — Dermody Proper - ties , a national private equity real estate investment, development and management company focused exclusively on the logistics real estate sec- tor, has leased the property at 150 Milford Rd. in East Wind- sor to National Tree Company (NTC), a national leader in the seasonal décor industry. NTC will lease the entire 608,442 s/f building for seven years. “This year, we’ve seen consis- tent uptrends in e-commerce in many areas of the country and New Jersey is no exception,” said Gene Preston , East Region partner at Dermody Properties. “We worked collab- oratively with East Windsor Township to upgrade and im- prove the building’s function- ality, making it ideal for this customer’s robust operations that will serve its national customer base.” Recent improvements to 150 HOWELL & FREEHOLD, NJ — A 50.15-acre plot in Howell on Vanderveer Rd., has been purchased from Hilton Management LLC by the ven- ture capital and private equity firm SJ Investment Holdings. The transaction was managed by Sheldon Gross Realty executive vice president Jona- than Glick and senior vice president Glenn Jaffe . Conveniently located in cen- tral Monmouth County, along Howell’s border with Freehold, the Vanderveer Rd. location is only minutes from the Garden State Pkwy., as well as Rtes. 195, 9, 33, and 18. In addition, it’s just a 20-minute drive from the New Jersey Tpke. Level and buildable, the land is ideal for warehousing or outdoor storage. “With rapid access to all major roadways in the area, plus a wide range of buildout options, this location can ul- timately become almost any- thing the new owner wants,” E
retailers including Amazon, Wayfair, Target, Macy’s, The Home Depot and Lowe's, and primarily sells on the web platform of these retailers and fulfills orders from its warehouse direct to the end consumer. “National Tree Company is an important and welcomed addition to East Windsor,” said Mayor of East Windsor Janice S. Mironov. “The company’s lease of this space opens up op- portunities for job growth and is a sign of continued economic growth in this region.” The property at 150 Milford Rd. is conveniently located less than one mile from Route 33, one mile from the New Jersey Tpke.and slightly more than three miles from Route 130. Mindy Lissner of CBRE represented Dermody Proper- ties in the lease. AndrewWar- ren with Atlantic Real Estate Services represented National Tree Company. MAREJ has arranged for a total of 16 transactions within Freehold’s Fairfield Industrial Park, in- cluding leases by Utz Quality Foods and Abbington Engi- neering within the past year. “As central New Jersey busi- ness locations go, Fairfield Corporate Park is definitely a hot spot,” said Jaffe. “It pretty much offers everything – an exceptional layout, multiple spaces between 5,000 and 7,000 s/f, and easy access to major roadways.” Located along Freehold’s border with Howell, Fairfield Industrial Park is only 10 minutes fromRte. 9 and Route 18, and a short drive from the New Jersey Tpke. and Rte. 34. Additional lease opportuni- ties recently became available in the industrial park when, in response to increased de- mand for 5,000- to 7,000 s/f warehouse spaces, a 40,000 s/f, single tenant structure there was divided into multiple units. MAREJ
Dermody Properties, National Tree Company & East Windsor Township representatives at 150 Milford Rd. For nearly 60 years, NTC has been a leading importer and wholesaler of artificial Christmas trees, wreaths and garlands as well as holiday decorations and fiber optics products. The company sells its products to several major Milford Rd. include an upgrad- ed sprinkler system to ESFR, new LED warehouse lighting and a repaved truck court. “This property at 150 Mil- ford Road presented the op- portunity for us to consolidate our three smaller New Jersey warehouse locations into one in East Windsor,” said Don Kel- ley, chief executive officer at National Tree Company. “This is a critical move in allowing us to expand our e-commerce operations with improved ef- ficiency.”
Glick, Jaffe & Leonelli of Sheldon Gross Realty manage Central New Jersey transactions
cently signed for space at 920- 922 Rte. 33, within Fairfield Industrial Park in Freehold. WOP Distributors took a 7,280 s/f location, while Warrior Ser- vice Company LLC – a medi- cal supply business focused Fairfield Industrial Park in Freehold
Glick said. “There an extreme- ly high demand for warehouse space throughout central New Jersey, so this was a stellar acquisition by SJ Investment Holdings.” Two new leases were re-
on veterans’ needs – leased 5,255 s/f. Both transactions were managed by Jaffe, along with Glick and sales representa- tive Matthew Leonelli . To date, Sheldon Gross Realty
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