{"id":3087,"date":"2023-03-13T16:25:52","date_gmt":"2023-03-13T16:25:52","guid":{"rendered":"https:\/\/www.lee-associates.com\/wbe\/?p=3087"},"modified":"2023-03-13T16:25:53","modified_gmt":"2023-03-13T16:25:53","slug":"lee-associates-inks-2-middlesex-county-industrial-deals-including-80m-purchase","status":"publish","type":"post","link":"https:\/\/www.lee-associates.com\/wbe\/2023\/03\/13\/lee-associates-inks-2-middlesex-county-industrial-deals-including-80m-purchase\/","title":{"rendered":"Lee &amp; Associates inks 2 Middlesex County industrial deals, including $80M purchase"},"content":{"rendered":"<div id=\"pl-3087\"  class=\"panel-layout\" ><div id=\"pg-3087-0\"  class=\"panel-grid panel-has-style\" ><div class=\"panel-row-style panel-row-style-for-3087-0\" ><div id=\"pgc-3087-0-0\"  class=\"panel-grid-cell\" ><div id=\"panel-3087-0-0-0\" class=\"so-panel widget widget_sow-editor panel-first-child panel-last-child\" data-index=\"0\" ><div\n\t\t\t\n\t\t\tclass=\"so-widget-sow-editor so-widget-sow-editor-base\"\n\t\t\t\n\t\t>\n<div class=\"siteorigin-widget-tinymce textwidget\">\n\t<p><a href=\"https:\/\/www.lee-associates.com\/wbe\/\" target=\"_blank\" rel=\"noopener\">Lee &amp; Associates New Jersey<\/a>\u00a0arranged two industrial transactions in Middlesex County, reflecting sustained dealmaking velocity in the regional marketplace, according to a Tuesday announcement.<\/p>\n<p>In Piscataway,\u00a0<a href=\"https:\/\/www.blackrock.com\/us\/individual\" target=\"_blank\" rel=\"noopener\">BlackRock Realty Advisors<\/a>\u00a0acquired 330 S. Randolphville Road for $80 million. In South Plainfield, a logistics firm signed a 189,000-square-foot, full-building lease at 602 New Market Ave.<\/p>\n<p>Matthew Schnurr of the commercial real estate firm\u2019s Capital Markets team represented BlackRock in its investment acquisition. The nearly 300,000-square-foot South Randolphville Road complex is fully occupied by\u00a0<a href=\"https:\/\/generalplumbingsupply.net\/\" target=\"_blank\" rel=\"noopener\">General Plumbing Supply Inc.<\/a><\/p>\n<p>\u201cBlackRock was drawn to the investment by the ideal location with proximity to the ports, immediate interchange access and a long-term lease involving a mission-critical corporate headquarters, showroom and distribution space operation,\u201d Schnurr said. \u201cIt was a pleasure working with the BlackRock team, whose members were keenly aware of the unique investment and property attributes. The New Jersey industrial investment market as a whole remains one of the most sought-after nationwide, in terms of high occupancy, sustained rental growth and limited supply.\u201d<\/p>\n<p>In South Plainfield, Drew Maffey and Rick Marchisio represented the logistics tenant in its full-building lease at 602 New Market Ave.\u00a0<a href=\"https:\/\/www.colliers.com\/en\" target=\"_blank\" rel=\"noopener\">Colliers<\/a>\u00a0represented the landlord,\u00a0<a href=\"https:\/\/bridgeindustrial.com\/\" target=\"_blank\" rel=\"noopener\">Bridge Development<\/a>. Situated on nearly 21 acres, the modern, energy-efficient building features 70 trailer spots, 36-foot clear ceiling height and 40 exterior docks.<\/p>\n<p>The move to 602 New Market Ave. is an expansion play for Maffey\u2019s and Marchisio\u2019s client.<\/p>\n<p>\u201cThe building\u2019s features and ideal location were major draws,\u201d Maffey noted. \u201cThe Western I-287 submarket allows for access to over a third of the U.S. population within a three-day drive.\u201d<\/p>\n<p>Maffey credited a collaborative relationship with the Bridge Development team for a smooth transaction.<\/p>\n<p>\u201cWe were able to close the deal quickly while ensuring that all of the tenants\u2019 needs were met,\u201d he said.<\/p>\n<\/div>\n<\/div><\/div><\/div><\/div><\/div><div id=\"pg-3087-1\"  class=\"panel-grid panel-has-style\" ><div class=\"panel-row-style panel-row-style-for-3087-1\" ><div id=\"pgc-3087-1-0\"  class=\"panel-grid-cell panel-grid-cell-mobile-last\" ><div id=\"panel-3087-1-0-0\" class=\"so-panel widget widget_sow-editor panel-first-child panel-last-child\" data-index=\"1\" ><div class=\"panel-widget-style panel-widget-style-for-3087-1-0-0\" ><div\n\t\t\t\n\t\t\tclass=\"so-widget-sow-editor so-widget-sow-editor-base\"\n\t\t\t\n\t\t>\n<div class=\"siteorigin-widget-tinymce textwidget\">\n\t<p><strong>MEDIA:<br \/>\n<\/strong>By: Linda Lindner<strong><br \/>\n<\/strong>ROI-NJ<\/p>\n<\/div>\n<\/div><\/div><\/div><\/div><div id=\"pgc-3087-1-1\"  class=\"panel-grid-cell panel-grid-cell-empty\" ><\/div><\/div><\/div><div id=\"pg-3087-2\"  class=\"panel-grid panel-no-style\" ><div id=\"pgc-3087-2-0\"  class=\"panel-grid-cell panel-grid-cell-empty panel-grid-cell-mobile-last\" ><\/div><div id=\"pgc-3087-2-1\"  class=\"panel-grid-cell panel-grid-cell-empty\" ><\/div><\/div><\/div>","protected":false},"excerpt":{"rendered":"<p>Lee &amp; Associates New Jersey\u00a0arranged two industrial transactions in Middlesex County, reflecting sustained dealmaking velocity in the regional marketplace, according to a Tuesday announcement. In Piscataway,\u00a0BlackRock Realty Advisors\u00a0acquired 330 S. Randolphville Road for $80 million. In South Plainfield, a logistics firm signed a 189,000-square-foot, full-building lease at 602 New Market Ave. Matthew Schnurr of the commercial real estate firm\u2019s Capital Markets team represented BlackRock in its investment acquisition. The nearly 300,000-square-foot South Randolphville Road complex&#8230;<\/p>\n","protected":false},"author":167,"featured_media":3088,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-3087","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-press-releases"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.5 (Yoast SEO v28.5) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Lee &amp; Associates inks 2 Middlesex County industrial deals, including $80M purchase - WBE Group<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.lee-associates.com\/wbe\/2023\/03\/13\/lee-associates-inks-2-middlesex-county-industrial-deals-including-80m-purchase\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Lee &amp; Associates inks 2 Middlesex County industrial deals, including $80M purchase\" \/>\n<meta property=\"og:description\" content=\"Lee &amp; Associates New Jersey\u00a0arranged two industrial transactions in Middlesex County, reflecting sustained dealmaking velocity in the regional marketplace, according to a Tuesday announcement. In Piscataway,\u00a0BlackRock Realty Advisors\u00a0acquired 330 S. Randolphville Road for $80 million. In South Plainfield, a logistics firm signed a 189,000-square-foot, full-building lease at 602 New Market Ave. Matthew Schnurr of the commercial real estate firm\u2019s Capital Markets team represented BlackRock in its investment acquisition. The nearly 300,000-square-foot South Randolphville Road complex...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.lee-associates.com\/wbe\/2023\/03\/13\/lee-associates-inks-2-middlesex-county-industrial-deals-including-80m-purchase\/\" \/>\n<meta property=\"og:site_name\" content=\"WBE Group\" \/>\n<meta property=\"article:published_time\" content=\"2023-03-13T16:25:52+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-03-13T16:25:53+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.lee-associates.com\/wbe\/wp-content\/uploads\/sites\/100\/2023\/03\/330SRandolpville.png\" \/>\n\t<meta property=\"og:image:width\" content=\"868\" \/>\n\t<meta property=\"og:image:height\" content=\"561\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"npietrontone\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"npietrontone\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.lee-associates.com\\\/wbe\\\/2023\\\/03\\\/13\\\/lee-associates-inks-2-middlesex-county-industrial-deals-including-80m-purchase\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.lee-associates.com\\\/wbe\\\/2023\\\/03\\\/13\\\/lee-associates-inks-2-middlesex-county-industrial-deals-including-80m-purchase\\\/\"},\"author\":{\"name\":\"npietrontone\",\"@id\":\"https:\\\/\\\/www.lee-associates.com\\\/wbe\\\/#\\\/schema\\\/person\\\/a0bdfc31b30a1d7bf0828bb5fd64acd3\"},\"headline\":\"Lee &amp; 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