A rendering of 85 Stults Road, South Brunswick, NJ
SOUTH BRUNSWICK, NJ—An apparel company has signed a lease for the entire more than 203,000-square-foot warehouse and distribution facility currently under construction on Stults Road here.
Commercial brokerage firm JLL reports that an unnamed apparel company has signed a 10-year lease totaling 203,488 square-foot at the building being developed by joint venture partners EverWest Real Estate Investors and Accordia Realty Ventures.
Brian Golden, managing director, at JLL, represented ownership and Joel Lubin, executive managing director and Gary Politi, senior vice president at JLL represented the tenant in the transaction.
EverWest Real Estate and Accordia Realty Ventures acquired 20 acres of land at 85 Stults Road, along with a 369,000-square-foot building at 83 Stults Road, from Hermann's Services Inc. in 2017. One Stop Logistics leased the space at 83 Stults Road for a 10-year period in 2018, with JLL representing Accordia Realty Ventures and EverWest in that transaction.
85 Stults is located adjacent to the New Jersey Turnpike's Exit 8A, and in the heart of the hottest industrial market in the state, and the ownership team worked for more than a year to secure municipal approvals to build the new facility, JLL reports.
The project when delivered by the end of this year will include 36-foot clear ceiling heights, 52 loading docks, four drive-in doors, 38 car parking spaces and 75 trailer stalls.
“This is an ideal opportunity to take advantage of a centrally located facility that provides easy access to the greater New York region and the east coast,” says JLL's Golden. “The state-of-the-art facility offers close proximity to the New Jersey Turnpike's Exit 8A at a time of limited supply in this demanding industrial submarket.”
|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.
John Jordan
John Jordan is a veteran journalist with 36 years of print and digital media experience.
