Lee & Associates N.J. inks 2 industrial transactions totaling 733K sq. ft.

By ROI-NJ Staff (Burlington/South Brunswick )

Underscoring the ongoing demand for well-located warehouse and logistics space, Lee & Associates New Jersey teams headed by Drew Maffey and Rick Marchisio arranged two industrial transactions totaling 733,000 square feet in Burlington and Middlesex counties.

In the larger of the two signings, an international third-party logistics provider inked a 478,000-square-foot, full-building lease at 1620 River Road, within Burlington Industrial Park in Burlington. Maffey and Marchisio worked with Michael Lee of Lee & Associates’ City of Industry, California, office, as tenant brokers in the transaction; Nate Demetsky of JLL represented the landlord.

“This property’s Class A functionality and Burlington County address were major draws for our client, as was the opportunity to occupy the building as its sole tenant,” Maffey said. “The move to 1620 River Road will enable superior access to regional thoroughfares while maintaining proximity to the company’s additional area operations.”

In South Brunswick, Maffey, along with Will Ziegler and Matt Esposito of the New Jersey team, arranged a 255,000-square-foot sublease at 301-321 Herrod Blvd. on behalf of a secure storage company. Lee & Associates’ Dave Saltzman represented the sublandlord in the transaction.

“Flexible sublease terms were very attractive to our client,” Maffey said. “Ultimately, this property’s Class A features and Middlesex County location within the Exit 8A submarket created an ideal scenario. Both of these transactions speak to sustained tenant activity within the market — with the advantage going to quality product in prime locations.”