RARITAN, NJ–In yet another sign of a charged-up industrial market, a national battery distributor took a long-term lease of 72,900 square feet for industrial and office space on Route 523 here in a deal set up by Colliers International.
The Energy Battery Group's commitment brings the 851,000-square-foot building at 1200 Route 523 to 90% occupied. The property is owned by Equity Industrial Flemington LLC.
The battery company is expanding its operations and workforce, and will occupy 64,044 square feet of industrial space and 8,893 square feet of office space.
“Energy Battery Group's expansion signals steady growth for the battery industry and this new location will complement EBG's other spaces throughout the country,” said Joe Nitti of Collier's industrial group, who represented the landlord in the transaction.
Nitti said Raritan is a “an economical, secondary market serving southeast New Jersey and Pennsylvania, and a good growth market for the industrial sector.”
EBG provides battery distributors and manufacturers with group buying options for battery services and products, including automotive, commercial, marine, industrial, standby, motorcycle and motive power batteries. The private company maintains a national network of more than 120 battery distributors.
Jason Adams, of Coldwell Banker Commercial Feist & Feist Realty Corp., represented the tenant in the transaction.
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