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Government Contractor Leases 256,000 SF

SOUTH BRUNSWICK, NJ-VSE Corp. will use the entire building at 111 Herrod Blvd. to store and auction goods seized by the Feds.

By Eric Peterson | Updated on March 20, 2008

SOUTH BRUNSWICK, NJ-VSE Corp., an Alexandria, VA-based engineering and tech support company, has signed a long-term lease for the entire 256,390-sf industrial building at 111 Herrod Blvd. here. VSE is expected to take occupancy of the three-year-old building on 20 acres by summer.

The lease comes just a year after VSE leased the 104,000-sf warehouse at 35 Thatcher Rd., also here. Both leases were arranged for VSE by senior managing directors Christopher Marx and Daniel Foley of Studley’s Hackensack, NJ office. Owner Forsgate Industrial Partners of Jamesburg, NJ was represented in-house by Catherine Argenio and Alex Klatskin. Terms of the latest lease were not disclosed; comparable space in the immediate Exit 8A submarket is currently listed with asking prices in the $4.50 per sf range.

VSE will use both locations to store and auction off merchandise seized by such federal agencies as the Department of Homeland Security, Customs and Border Protection, Immigration and Customs Enforcement, the Secret Service and the IRS. It is part of a $113-million contract VSE has with the US Treasury. In 2007, the DHS seized some $200 million of counterfeit or pirated goods, topping the 2006 value by 27%.

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