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UPS Closes Two Deals for 256,000 SF

BRIDGEWATER, NJ-The delivery giant buys a 222,000-sf building and extends its lease in another building, both at Advance's MiddleBrook Crossroads.

By Eric Peterson | Updated on October 07, 2008

BRIDGEWATER, NJ-Package delivery giant UPS has completed two deals–one an acquisition and the other a lease–involving a total of 255,800 sf in two buildings within the MiddleBrook Crossroads industrial park here. The 20-building, 800,000-sf park is among the holdings of the Bedminster, NJ-based Advance Realty Group.

The acquisition involves the 222,200-sf building at 16E Chimney Rock Rd., which UPS has been using as a local distribution center for a number of years, occupying it on a leased basis. The acquisition price was not released, but industry sources put the number in the $12-million range.

The lease, an extension, is for the entire 33,600-sf building at 11E Easy St. within the park. UPS uses the building as an adjunct to the larger building, specifically for distribution support and sales offices. Terms were not released. Availabilities totaling approximately 88,000 sf in units from 2,400 sf to 27,000 sf are currently listed with asking prices of $5.75 psf net for industrial space and $12 per sf net for offices.

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