1001 West Middlesex Ave. in Port Reading — Courtesy: Prologis Inc.
By Joshua Burd
Prologis Inc. has leased more than 600,000 square feet in Woodbridge to a warehousing and logistics firm, in what was one of New Jersey’s largest industrial deals to start the year.
Fontana, California-based Elogistek will occupy the full building at 1001 West Middlesex Ave. in the township’s Port Reading section, which is minutes from the New Jersey Turnpike and part of the Exit 12 submarket. According to a property flyer, the 607,400-square-foot facility is also 16 miles from Port Newark-Elizabeth and 12 miles from Newark Liberty International Airport, providing users with 40-foot clear ceiling heights, 72 dock doors, two drive-in doors and parking for 60 trailers and 362 cars.
CBRE’s Tom Monahan, Brian Golden and Larry Schiffenhaus represented Prologis in the deal, while a Cushman & Wakefield team led by Chuck Fern represented the tenant.
“This is a Class A property with great access to major transportation hubs — we’re happy to see it fully leased,” said Prologis Senior Vice President Mike Sacro, the company’s New Jersey and New York market officer. “Another great deal in the New Jersey ports, we’re proud to partner with our brokerage community — CBRE, who represented us, and Cushman & Wakefield, who represented the tenant — to make it happen.”
A market report by Savills listed the Elogistek transaction as northern New Jersey’s largest industrial lease of the first quarter, while recounting the market’s slowing rent growth and an uptick in vacancy due to new construction deliveries. Experts note that the market remains healthy by historical standards, following a period of record-high demand in 2021.
