By Joshua Burd Heller Industrial Parks has leased some 50,000 square feet in Edison to an ecommerce fulfillment firm, in a newly announced deal by Lee & Associates – WBE New Jersey. According to the brokerage team, Cangso Global Inc. is moving to 240 Mill Road from Essex County as part of an expansion of its East Coast distribution operation. The deal will provide the company, a U.S.-based fulfillment center specializing in ecommerce sellers, with…
Freight forwarding, logistics firm takes 89,000 sq. ft. in Raritan Center, Lee & Associates says
By Joshua Burd Summit Associates Inc. has landed a tenant for a nearly 89,000-square-foot industrial building in Edison, brokers with Lee & Associates – WBE New Jersey announced Thursday. The occupier, a freight forwarding and logistics services business, will use the space at 117 Sunfield Ave. to support its expansion in the region, according to a news release. The deal provides it with a foothold in the well-known Raritan Center district — which is minutes…
Longpoint buys 101,000 sq. ft. Piscataway industrial portfolio for $19.4 million
By Joshua Burd Longpoint has acquired two industrial buildings in Piscataway, expanding its portfolio by more than 101,000 square feet in a deal arranged by Lee & Associates – WBE New Jersey. The private equity real estate firm, which is based in Boston, paid $19.4 million for the small-bay facilities at 121 and 131 Ethel Road West, according to a news release. Lee & Associates’ Drew Maffey and Joseph Komitor represented the buyer in the…
Brookfield leases up new 152,000 sq. ft. industrial building in Union, Lee & Associates says
By Joshua Burd Brookfield Properties has preleased a nearly 152,000-square-foot industrial building in Union Township, in a newly announced deal by Lee & Associates – WBE New Jersey. According to a news release, an undisclosed manufacturer will use the space at 901 Lehigh Ave. to expand its business. The deal also provides it with a location that’s about four miles from the New Jersey Turnpike, giving it easy access to Port Newark-Elizabeth and New York…
Dermody, retail brand Quince ink 105,000 sq. ft. lease in Carneys Point, Lee & Associates says
By Joshua Burd A direct-to-consumer retailer has found its first logistics facility, leasing 105,000 square feet of new industrial space in the Salem County township of Carneys Point. According to Lee & Associates, which represented the tenant, the affordable luxury brand Quince will use the space at 24 North Game Creek Road to serve its immediate and long-term distribution space needs. It’s leasing the space from Dermody, the developer of the two-building LogistiCenter at Carneys…
Seasoned brokers Capetta, Corpuel join Lee & Associates – WBE
By Joshua Burd Lee & Associates has expanded its industrial brokerage team in New Jersey with the additions of Gary Capetta as managing partner and Matthew Corpuel as partner. In a news release Tuesday, the commercial real estate services firm said the veteran brokers are based in its Elmwood Park office and bring nearly 70 years of combined industry expertise. That includes positions at Pantheon Properties and CBRE, where Capetta and Corpuel worked together, having…
Lee & Associates: Glassman family sells 34,000 sq. ft. Fairfield office building for $3.6 million
By Joshua Burd A well-known office building in Fairfield has changed hands for $3.6 million, in a newly announced deal by Lee & Associates – WBE. Peter Rasmusson, a partner with the commercial real estate services firm, represented the Glassman family in its sale of the 34,445-square-foot property at 383 Route 46. He also procured the buyer, Fairfield Real Estate LLC, noting that the three-story building has been owner-occupied since 1985. “383 Route 46 is…
Lincoln Property Co., Ullico acquire vacant 139,000 sq. ft. industrial building in Hamilton
By Joshua Burd Lincoln Property Co. and Ullico Investment Advisors have acquired a nearly 139,000-square-foot industrial building in Hamilton, the firms announced this week. According to a news release, the property at 861 Sloan Ave. is vacant and has 38-foot clear ceiling heights and 13 fully equipped dock doors with the option to expand to 18, plus 12 trailer parking stalls, a newly installed roof and modern sprinklers. The joint venture is now prepping the…
Wise Foods takes 61,000 sq. ft. in Totowa industrial deal, Lee & Associates – WBE says
By Brett Johnson A food business has leased a 61,000-square-foot industrial site in Totowa to expand its North Jersey footprint, brokers with Lee & Associates – WBE announced Tuesday. In a news release, the team said regional snack food company Wise Foods will occupy more than half of the 84,000-square-foot building at 70 Maltese Drive. The Berwick, Pennsylvania-based maker of potato chips and other salty snacks is moving there from a Bergen County location….