The New Jersey office of Duke Realty Corporation has preleased a 216,892-square-foot speculative development in Piscataway to JD.com, China’s largest direct online retailer with more than 1,300 warehouses around the world. Duke Realty’s facility, currently under construction on a 21-acre site at 1570 South Washington Avenue, has immediate access to I-287 and is only six miles from I-95 and Exit 10 — making it an ideal addition to JD.com’s logistics network.
“Demand for distribution space along the New Jersey Turnpike corridor remains excellent and the vacancy rate for industrial space in the 287 Corridor submarket continues to hover near all-time lows,” said Ben Rosen, vice president of development and leasing in New Jersey for Duke Realty. “This type of well-located and highly functional distribution facility is what Duke Realty is known for and it is no surprise that we were able to quickly secure a lease for this speculative development.”
Duke Realty is constructing the distribution facility with 40-foot clear height, 34 dock doors, 38 trailer spaces and parking for 125 cars. The facility is being built to LEED® certification standards. The site is located near the New Jersey Turnpike, just minutes from Newark Liberty International Airport and the ports of New York and New Jersey and New York City. Duke Realty is expected to complete construction in fall 2022.
“We have been working with Piscataway Township for some time to develop thoughtful, sustainable industrial facilities that generate tax revenue, remediate brownfield sites and create jobs,” added Rosen. “By working collaboratively, we have provided our tenants with strategically located modern warehouses and continued to be responsible corporate citizens of the communities we serve.”
Rosen and Gregg Bazzani, Duke Realty development associate in New Jersey, along with Noah Balanoff and Jacquelyn Severino with Colliers International represented Duke Realty. Andy Ho with Kander Pacific, Inc. and Chuck Fern, Jason Barton and Thomas Tucci with Cushman & Wakefield represented JD.com in lease negotiations.
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