SOMERSET, NJ—Leases totaling 50,000 square feet have been signed at Worlds Fair Corporate Center, an industrial warehouse property in Somerset, NJ.

The CBRE brokerage team of Robert Pine, Mindy Lissner, William Waxman, Steven Beyda, Kevin Dudley, and David Gheriani represented landlord First Industrial Realty Trust in the following transactions:

• Vadilal, a food manufacturer, signed a 10,000-square foot lease
• AXYZ International, a manufacturer of CNC routers, signed a 5,000-square foot lease
• U.S. Strategic Marketing, advertising for the beverage industry, signed a 5,000-square foot lease
• Gericke, a supplier of manufacturing equipment, signed a 5,000-square foot lease
• Pace, a sampling and analytical testing firm, signed a 5,000-square foot lease
• John Deere, a manufacturer of agricultural equipment, signed a 5,000-square foot lease
• Shanco International, a producer of chemicals, signed a 5,000-square foot lease
• ILEET Marketing Group, an advertising company, signed a 5,000-square foot lease

“In a submarket that has seen good demand but relatively low rent growth for the last five years, we've begun to see rents climb higher than was forecasted, and we're also seeing an influx of leading companies with strong credit quality,” says Pine. “Worlds Fair Corporate Center is at the heart of that trend. With a rise in startups in the area, along with the regional expansion of national companies, the park is benefitting because it's one of only a handful of industrial properties in the area that provides companies with modern space, desired amenities and an enhanced corporate image, and is owned and managed by a national real estate operator in First Industrial.”

Located on Worlds Fair Drive, Worlds Fair Corporate Center consists of six flex/industrial buildings with units ranging from 5,000 to 25,000 square feet. The property's roster of tenants includes Technical Gas Products, SunRun Solar, Multiband, and Unitemp.