1 Gold Mine Road in Flanders — Courtesy: Resource Realty of Northern New Jersey
By Joshua Burd
An industrial user has taken 7,800 square feet at a recently updated building in Randolph, in the largest of three newly announced deals by Resource Realty of Northern New Jersey.
The brokerage firm’s Brian Wilson and Tom Consiglio represented the landlord at 273 Franklin Road, also known as Commerce Park Commons, while Christie’s International Real Estate represented the tenant. The transaction gives the undisclosed business easy access to routes 10 and 46, which are less than two miles away, at a site with 12-foot clear ceilings and ample parking.
Also in Randolph, Wilson represented both parties in a 2,550-square-foot lease at 7 Middlebury Blvd. He noted that the property also offers convenient access to Route 10 and is situated within an established light industrial area serving local trade and service businesses.
Meantime, Wilson and RRNNJ’s Peck arranged a 5,146-square-foot lease at 1 Gold Mine Road in the Flanders section of Mount Olive. They represented ownership in the deal with Almetek Industries Inc., touting the property’s location across from the ITC Crossing South shopping center and less than two miles from the Route 206 and Interstate 80 interchange, as well as its 18-foot clear ceilings and a loading dock.
“Randolph and Flanders sit at the crossroads of Interstate 80, Interstate 287 and routes 10, 46, 202 and 206,” said Wilson, a principal with Parsippany-based RRNNJ. “That level of connectivity is why we continue to see steady demand for industrial space along this corridor.”
The firm said the 15,496 square feet of new leasing activity underscores the sustained demand for strategically located properties along key regional arteries in the Garden State, as well as the region’s continued expansion as a logistics hub.
“Today’s industrial tenant demands a premium product in a premium location,” said Consiglio, also a principal. “These transaction locations offer the kind of connectivity that already commands a premium, which means tenants continue to compete for properties with modern amenities in these submarkets.”
