"These properties were all built in the past nine years, and they feature amenities such as metal halide lighting and ESFR sprinklers," Pulice says. "And New Jersey's 8A exchange is a premier location for warehousing and distribution operations."
"By continuing to equip our properties with the technology and amenities our tenants need, we're confident that they will continue to create value for our tenants and clients alike," says Kevin Smith, TIAA-CREF's director of asset management.
About half of the total space is currently available and it's listed with an asking price of $4.75 per square foot. The 233,000-square-foot building on 25 acres at 260 Prospect Plains Rd. within the Rockefeller Group FTZ is available in its entirety. Built in 2005, it was acquired by TIAA-CREF from Rockefeller Group Development later that year.
The other two buildings are the adjacent 1265 and 1267 South River Rd. on 62.5 acres, both completed in 1999. The 344,462-square-foot 1265 building currently has a total of just less than 112,000 square feet. And the 281,034-square-foot 1267 building has 58,627 square feet up for grabs, an availability recently reduced to that number with the signing of logistics provider Kamino International Transport to 60,462 square feet.
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