195 Raritan Center, Edison, NJ
EDISON AND BRIDGEWATER, NJ—A candy distributor, a warehouse company, and a mill-work/cabinet making company have signed industrial leases for more than 200,000 square feet of space in Edison and Bridgewater, with all the deals brokered by Edison, NJ-based corporate real estate brokerage firm Zimmel Associates.
In the first transaction, Royal Enterprise, a full-service distributor of bulk candy, chocolates and novelty products based in Mount Laurel, NJ, leased 70,000 square feet at 195 Raritan Center Parkway, Edison, NJ. David Zimmel, Zimmel Associates' president, represented the building owner, Mobile Star. Royal Enterprise was represented by Doug Bansbach and Linda Hill of Cushman & Wakefield.
“We had a lot of activity on the building from the time we were assigned the exclusive a few months ago,” says Zimmel. “The rent was competitive for a highly convenient Raritan Center location that offers quick access to the New Jersey Turnpike, the Garden State Parkway, Route 287 and more.
In the second transaction, Romeo and Layla Warehousing signed a seven-year lease for 106, 464 square feet at 75 Carter Drive, Edison, NJ. The landlord, Caro Associates, was represented by Lou Belfer of CBRE, East Brunswick.
“Romeo and Layla's lease was coming up for renewal and they hired our firm to do a market assessment and negotiate a renewal on their behalf,” says Zimmel. “The New Jersey warehouse space market has tightened in recent years and rents have increased. They took a proactive approach to fully understand their options, improve their negotiating leverage, and get the best deal.”
In the third transaction, Prestige Millwork, manufacturers and installers of architectural woodwork and custom cabinetry, signed a long-term lease for 24,000 square feet in a freestanding building at 27 Kearny St., Bridgewater, NJ. Jordan Zimmel, a vice president of the brokerage firm, represented both the tenant and landlord, Denholtz Associates. The building is located in Bridgewater Business Park.
The industrial sector has become the hottest segment in commercial real estate. How will logistics companies keep up with the market forces of omnichannel commerce? When will new supply finally catch up with demand? Who's putting investment capital into industrial and what does the future hold? Join us at RealShare Industrial on November 16 and 17 for answers to these and other questions. Learn more.
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Steve Lubetkin
Steve Lubetkin is the New Jersey and Philadelphia editor for GlobeSt.com. He is currently filling in covering Chicago and Midwest markets until a new permanent editor is named. He previously filled in covering Atlanta. Steve’s journalism background includes print and broadcast reporting for NJ news organizations. His audio and video work for GlobeSt.com has been honored by the Garden State Journalists Association, and he has also been recognized for video by the New Jersey Chapter of the Society of Professional Journalists. He has produced audio podcasts on CRE topics for the NAR Commercial Division and the CCIM Institute. Steve has also served (from August 2017 to March 2018) as national broadcast news correspondent for CEOReport.com, a news website focused on practical advice for senior executives in small- and medium-sized companies. Steve also reports on-camera and covers conferences for NJSpotlight.com, a public policy news coverage website focused on New Jersey government and industry; and for clients of StateBroadcastNews.com, a division of The Lubetkin Media Companies LLC. Steve has been the computer columnist for the Jewish Community Voice of Southern New Jersey, since 1996. Steve is co-author, with Toronto-based podcasting pioneer Donna Papacosta, of the book, The Business of Podcasting: How to Take Your Podcasting Passion from the Personal to the Professional. You can email Steve at [email protected].
