"Industrial leasing is alive and well in 2009," says Jason Goldman, a Cushman & Wakefield executive director, based here. "New Jersey is and always will be a highly desirable location for industrial users. Within this context, owners that can distinguish their properties will attract companies, even in tough times. The key to securing leases in today's tenant market is a willingness on the part of landlords to be competitive and creative."
Goldman and team members Frank Caccavo, Andrew Siemsen and Glenn Talavera served as landlord representatives in the following transactions:
- A 248,000-square-foot new lease by Lasar Logistics at 147 West Manor Way in Washington Township for owner Allianz. Chuck Fern of Jones Lang LaSalle represented the tenant. At the same building, Mystic Logistics signed for 223,200 square feet. David Saltzman from Newmark Knight Frank spoke for Mystic in that transaction;
- A 233,515-square-foot lease renewal and expansion, including 66,485 square feet of additional space, by LA Enterprises at 231 Herrod Blvd. in South Brunswick. The tenant was represented by Doug Fura of NAI Farbman and David Nenner of Rreef, the building's owner;
- Market Resource Packaging's 232,886-square-foot lease at TIAA-CREF's 260 Prospect Plains Rd. in Cranbury, NJ in tandem with JRT Realty Group. Joel Lubin of Jones Lang LaSalle served as tenant representative;
- Also with JRT, the C&W team signed Papa Johns for 58,627 square feet at TIAA-CREF's 1267 S. River Rd. in Cranbury. The tenant representative was Lincoln Property;
- An 83,200-square-foot renewal for Invacare Corp. at Allianz's 111 Interstate Blvd. in South Brunswick. Invacare was advised by John Lieser of McBride Corporate Real Estate;
- A 31,820-square-foot new lease for Ingram Micro at 10 New Maple Ave. in Pine Brook. High Street Equities owns the property. Dan Harrison of Newmark represented Ingram Micro;
- A 134,027-square-foot lease for Kellogg's at PPF Industrial's 112 Melrich Rd. in South Brunswick. Greg Nowell and Chris Santoro of Sitar advised the tenant.
- A 48,000-square-foot new lease by Amerlux Lighting Systems LLC at 19-21 Daniel Rd. in Fairfield. Howard Weinberg of Colliers Houston served as landlord representative for a private individual owner;
- A 47,929-square-foot new lease for Prince of Peace Enterprises Inc. at 2344 Route 130 in South Brunswick in conjuction with Ray Musalo of Alliance Real Estate. Joel Lubin and Charles Fern of Jones Lang LaSalle served as landlord representatives for property owner Pro Warehouse.
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