Cassidy Turley Team Negotiates Over $25 Million in Industrial Transactions

On Oct 22, 2014

Cassidy Turley, a commercial real estate services provider in the US, announces that the team of Senior Vice President Larry Casey and Associate Robin Ritter-Ceriello have completed a total of over $25 million in sales and leases for truck terminal and distribution facilities throughout New Jersey and Pennsylvania over the past nine months.

Casey and Ritter-Ceriello specialize in crossdock truck terminal and distribution facilities in the mid-Atlantic region. The team has completed over 550,000 square feet of leases valued at approximately $15,017,000. Recent transactions include the lease of 172,100 square foot facility on 53 acres in Burlington County, NJ, representing both the owner, First Industrial Realty Trust, and the tenant, DriveTime Auto Group. Another transaction where the Cassidy Turley team represented both the owner, Heller Industrial Parks, and tenant, Alba Wine & Spirits, is the lease negotiation of 303,000 square feet in Edison, NJ. The team also negotiated a lease obligation release on behalf of Ingram Content/Lighting Source for 68,000 square feet in Edison.

Truck terminal transactions totaled $10,786,000 inclusive of two sales for approximately $4,550,00 and three leases totaling $4,551,00 in Middlesex County in addition to one land sale for $1,685,000 in Luzerne County, PA. Clients served include A Duie Pyle, Adler Development, Dapper Bus, Hollywood Properties, New York Carolina Express, NFI Industries, Watkins Industries and YRC Freight.

“We continue to see growth in the New Jersey industrial market as companies look to expand their presence near ports, airports and major highways to facilitate shipping and distribution of goods along the East Coast,” says Mr. Casey. “Not only is this a positive indicator for New Jersey’s economy, but is a testament to Cassidy Turley’s ability to serve clients of varying sizes with unique business needs throughout the state.”

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