Search
 

Howard Berger Leases 237,000 SF

CRANBURY, NJ-The deal fills up USAA Real Estate's 680,000-square-foot W/D building in the New Jersey Turnpike Exit 8A market.

By Eric Peterson | Updated on January 14, 2009

CRANBURY, NJ-Hardware and housewares importer and manufacturer Howard Berger Co. is signing a lease for just less than 237,000 square feet of warehousing and distribution space at 324 Half Acre Rd. here, filling up the two-year-old, 680,000-square-foot, cross-dock facility in the New Jersey Turnpike Exit 8A submarket. For the Howard Berger Co., which besides its own products also packages and consolidates goods from China, the deal adds up to a consolidation and relocation of its headquarters operations from Monroe Twp., NJ.

“The company was looking to consolidate its operations from those two buildings in Monroe to one centralized location as a means of achieving a more efficient system of distributing its products,” says Scott Belfer of CB Richard Ellis, one of the brokers who put the deal together. “With its amenities and its proximity to the largest ports in the region, the building suits the company’s expansion needs.”

Belfer co-brokered the signing with CBRE colleagues Stacey Weinberg, Mindy Lissner, Lou Belfer and Brittany Smith. Terms of the deal were not released; the space had been listed with an asking price of $5.25 per square foot and comparable space in the submarket is generally listed in the $4.75 to $5.25 range.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.