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Three Lease Transactions Add Up to 492,000 SF

ROCHELLE PARK, NJ-Coca-Cola Enterprises and Flaghouse both renew at their existing W/D locations, while Georgia-Pacific has subleased a 240,000-sf space in a disposition transaction.

By Eric Peterson | Updated on December 22, 2005

(To read more on the industrial market, click here.)

ROCHELLE PARK, NJ-Three leading US companies have been involved in industrial lease transactions adding up to 492,000 sf with a total value of approximately $24 million. For one, Coca-Cola Enterprises signed a five-year renewal for the entire 134,000-sf building at 701 Jefferson Rd. in Parsippany, NJ. With the signing, valued at $4 million, Coca-Cola will maintain a Northeast distribution center at a building it has occupied since the 1970s.

Studley.Studley SVP Thomas R. Carragher and senior managing director Daniel Foley, who have represented Coca-Cola in more than one million sf of leases since 1997, spoke for the tenant. The property owner, Weny Brothers, was represented in-house by partner Scott Perkins, and by James E. Hanson, managing director at NAI James E. Hanson of Hackensack.

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