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SBWE Partner Negotiates Four Leases Worth $75 Mil

HASBROUCK HEIGHTS, NJ-The deals include warehouse/distribution facilities for three retailers, and a new home improvement store, all in Northern New Jersey.

By Eric Peterson | Updated on October 08, 2001

HASBROUCK HEIGHTS, NJ-Michael L. Evans, CEO of SBWE, Inc., the brokerage firm based here, has arranged four new leases with a combined value of more than $75 million, totaling more than 420,000 sf of industrial space and 140,000 sf of retail space. The deals bring Evans’ career tab to over 530 transactions for some 20 million sf with a total value of over a billion dollars.

Three of these latest leases were signed by retail chain operators for warehouse/distribution space. In the first, Prada took all of a new 175,000-sf office and distribution facility at Castle Road Industrial Park in Secaucus, NJ, owned by Castle Industrial Park LLC. The lease term is 20 years, but no other details were disclosed.

Also, Toys “R” Us has leased a 140,000-sf distribution center in Pine Brook, NJ for its Imaginarium store subsidiary. The property is owned by First Industrial Realty Trust. And Armani A/X has leased a 107,000-sf distribution center in the Hartz Mountain Industrial Park in Secaucus, owned by Hartz Mountain Industries.

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