Shoe wholesaler R&J Warehouse has signed a 103,350-square-foot, full-building lease at Rutgers Industrial Center in Piscataway, announced Levin Management Corporation (LMC), asset manager for the five-building, 535,000-square-foot industrial/warehouse complex.
R&J Warehouse’s new space in 140 Circle Drive North represents an expansion of the New York-based company’s operations, according to Robert Carson, LMC’s executive vice president. “The company will assume tenancy of the single-story building in late summer – immediately after the current tenant’s lease expires,” he noted. “The fact that the building will experience no period of vacancy reflects current market fundamentals. The industrial/warehouse sector is performing extremely well, and this lease clearly demonstrates sustained demand for quality space in Northern and Central New Jersey.”
Rutgers Industrial Centers’ prime location and superior highway access drove R&J Warehouse’s interest in the 140 Circle Drive North lease opportunity, Carson noted. The property sits in the heart of Middlesex County, easily accessible to I-287 and just five miles from Exit 10 of the New Jersey Turnpike. Commuter rail service, Newark Liberty International Airport, New York City and New Jersey seaports are all nearby.
The R&J Warehouse transaction marks the third new lease signing at Rutgers Industrial Center in the last 18 months, and underscores the depth and breadth of LMC’s commercial platform. Chuck Fern of Cushman & Wakefield served as landlord broker in negotiating the transaction.
For more than 65 years, LMC has served as a trusted single-source commercial real estate services provider for institutional and private owners. The firm helps its clients evaluate options, operate properties and create case-specific solutions to protect and improve asset value. LMC today maintains a diversified, retail-focused portfolio of approximately 100 properties totaling 14 million square feet in the Northeast and Mid-Atlantic states, offering leasing, property management, financial management and reporting, construction and development, lease administration, marketing services, and acquisition and disposition consulting services. LMC’s capabilities continue to evolve with new technologies, efficiencies and sustainability-focused initiatives to serve a new generation of properties, investors and tenants.
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