Cushman & Wakefield has completed two leases and one sale in New Jersey totaling 672,000 square feet at 380 Dean Rhode Hall Road in South Brunswick, 9 Finderne Avenue in Bridgewater and 1532 South Washington Avenue in Piscataway. Chuck Fern, executive managing director, led the Cushman & Wakefield team, which also included Jason Barton, vice president.
Fern represented tenant Everlast Logistics in its lease of 251,000 square feet of logistics space in South Brunswick. Everlast Logistics is a family owned, full-service logistics company that was looking to expand operations. The owner, Prologis, which was represented by JLL, had a vacancy and worked quickly with Fern and Everlast to move the company into the South Brunswick facility at 380 Dean Rhode Hall Road. The building is within a secured site, has 36-foot ceilings and is minutes from Exit 8A on the New Jersey Turnpike.
Working with tenant, Starplast, and the owner, Bridgewater Ventures, Fern and Barton negotiated a 165,000-square-foot lease at 9 Finderne Avenue in Bridgewater. The distribution warehouse features three drive-in doors, 16 interior docks, 14- to 24-foot ceilings and is close to rail station just off of Exit 10 of the New Jersey Turnpike. Starplast, one of Israel’s leading plastic manufacturers of home, garden and office storage solutions, relocated from 100 Davidson Avenue in Somerset.
Fern and Barton represented the owner, EVA NJ Realty Associates, LLC, in the sale of 1532 South Washington Avenue in Piscataway to M & J Srour Properties, LLC for an undisclosed amount. The 256,000-square-foot facility offers direct access to the New Jersey Turnpike and Garden State Parkway as well easy access to Routes 1, 9, 27, 35 and 22. The industrial property is visible from Route 287, is fully fenced and secured with 16 loading docks and ample parking.
“The Exit 8A and Exit 10 submarkets continue to demonstrate strength in the market due to the close proximity to major highways and transportation hubs,” Fern said. “We were able to match clients business needs to available properties creating a solution for both tenants and owners.”
The successful merger of Cushman & Wakefield and DTZ closed September 1, 2015. The firm now operates under the iconic Cushman & Wakefield brand and has a new visual identity and logo that position the firm for the future and reflect its trusted global legacy and wider history. The new Cushman & Wakefield is led by Chairman & Chief Executive Officer Brett White and Global President Tod Lickerman. The company is majority owned by an investor group led by TPG, PAG, and OTPP.Related Articles: