MONROE TOWNSHIP, NJ-Matrix Development Group has signed a significant expansion lease with a tenant at one of its facilities situated in New Jersey’s powerhouse industrial submarket, Turnpike Exit 8A, and signed a new 40,000-square-foot tenant at another.
Both Five Fitzgerald Avenue and 17 South Middlesex Avenue are located within minutes of the New Jersey Turnpike, providing easy access to the New York/Philadelphia and Boston/Washington transportation corridors and major freight-moving roadways.
TYC/Genera Corp. renewed and expanded its lease at Matrix’s CenterPoint facility at Five Fitzgerald Ave. in Monroe Township to occupy the entire 239,000-square-foot structure. The North American distribution arm for the TYC-brand auto parts company took an additional 77,000 square feet as part of the transaction.
Priority Post, a subsidiary of the Swiss Postal Service that provides international mailing services for the wholesale industry, signed the new lease for space at 17 South Middlesex Avenue.
“Genera and Priority Post both depend on being able to deliver goods and services in a timely and efficient manner, and these leases reflect the advantages of Exit 8A in supporting the business objectives of the region’s distributors,” notes James R. Murray, Matrix’s vice-president overseeing its industrial portfolio.
The warehouse/distribution facility at Five Fitzgerald Ave., built in 2004, provides 36-foot clear height, plentiful dock doors and parking, and an ESFR fire suppression system, Murray says. The CenterPoint complex offers a total of more than six million square feet of industrial, office, research and corporate headquarters space. Other tenants include the Associated Press, Sony, Volkswagen, Mitsubishi Electronics, and a US Postal Distribution Center, among others.
The warehouse building on Middlesex Avenue is a 205,187-square foot structure that has 30-foot clear height and trailer parking. Lance Shalit and Joe D’Agostino of Lance Bram Commercial Brokerage represented Priority Post in that transaction.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 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.
