Jones Lang LaSalle
Three Industrial Leases Add Up to 200,000 SF
By Eric Peterson
Last updated: February 16, 2006 08:23am
(To read more on the industrial market, click here.)
MONROE TWP., NJ-Three long-term industrial leases have been signed, one a renewal, totaling nearly 200,000 sf at two adjacent properties in the New Jersey Turnpike 8A submarket here. In the largest of the three transactions, Hair Systems Inc. has signed a new lease for 75,884 sf at 3 Fitzgerald Ave., bringing the 151,400-sf building to 100% occupancy. The tenant, a manufacturer of hair care products based in Englishtown, will use the facility for additional warehouse and distribution space.
The remainder of 3 Fitzgerald Ave. is occupied by Avery Dennison, which in the second recent transaction has just renewed its lease for 75,556 sf. The tenant, a maker of office products, pressure-sensitive labeling and branding systems, has had a light manufacturing and distribution operation on-site for the past 20 years. Jules Nissim and Stan Danzig of Cushman & Wakefield of NJ’s East Rutherford office brokered the transaction for Avery Dennison, a C&W national account headed on the West Coast by Scott Evans.
“The transaction is the third renewal we have handled for Avery Dennison at this location,” Nissim says. “The space continues to meet the company’s regional needs for a central location.”
The third signing came at 17 South Middlesex Ave., where 1-800-Pack-Rat, a mobile self-storage franchise, has signed a new lease for 39,720 sf. The company, which will use the space for a warehouse operation, was represented by Connor Faught of GVA Advantis of Washington, DC, and locally by Steve Tolcash of GVA Williams Buschman of Lawrenceville. In all three cases, the property owner was represented by Frank Caccavo, Jason Goldman and Andrew Siemsen of the Iselin office of Cushman & Wakefield of NJ.
According to Faught, 1-800-Pack-Rat’s space includes 1,700 sf of office space, and the property’s ownership is creating a customized 20-foot-wide drive-in loading dock for the new tenant. The lease also brings 17 South Middlesex Ave. to full occupancy, with Neilsen & Bainbridge, a Paramus custom framing company, occupying the remainder of the building. Both buildings, currently owned by SSR, are within the CenterPoint at 8A business park, and were originally built by Matrix Development Group.
Three Industrial Leases Add Up to 200,000 SF
By Eric Peterson
Last updated: February 16, 2006 08:23am
(To read more on the industrial market, click here.)
MONROE TWP., NJ-Three long-term industrial leases have been signed, one a renewal, totaling nearly 200,000 sf at two adjacent properties in the New Jersey Turnpike 8A submarket here. In the largest of the three transactions, Hair Systems Inc. has signed a new lease for 75,884 sf at 3 Fitzgerald Ave., bringing the 151,400-sf building to 100% occupancy. The tenant, a manufacturer of hair care products based in Englishtown, will use the facility for additional warehouse and distribution space.
The remainder of 3 Fitzgerald Ave. is occupied by Avery Dennison, which in the second recent transaction has just renewed its lease for 75,556 sf. The tenant, a maker of office products, pressure-sensitive labeling and branding systems, has had a light manufacturing and distribution operation on-site for the past 20 years. Jules Nissim and Stan Danzig of Cushman & Wakefield of NJ’s East Rutherford office brokered the transaction for Avery Dennison, a C&W national account headed on the West Coast by Scott Evans.
“The transaction is the third renewal we have handled for Avery Dennison at this location,” Nissim says. “The space continues to meet the company’s regional needs for a central location.”
The third signing came at 17 South Middlesex Ave., where 1-800-Pack-Rat, a mobile self-storage franchise, has signed a new lease for 39,720 sf. The company, which will use the space for a warehouse operation, was represented by Connor Faught of GVA Advantis of Washington, DC, and locally by Steve Tolcash of GVA Williams Buschman of Lawrenceville. In all three cases, the property owner was represented by Frank Caccavo, Jason Goldman and Andrew Siemsen of the Iselin office of Cushman & Wakefield of NJ.
According to Faught, 1-800-Pack-Rat’s space includes 1,700 sf of office space, and the property’s ownership is creating a customized 20-foot-wide drive-in loading dock for the new tenant. The lease also brings 17 South Middlesex Ave. to full occupancy, with Neilsen & Bainbridge, a Paramus custom framing company, occupying the remainder of the building. Both buildings, currently owned by SSR, are within the CenterPoint at 8A business park, and were originally built by Matrix Development Group.
posted by Jones Lang LaSalle NJ News Blog at 9:48 AM
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