By Joshua Burd
An importer and distributor of cabinetry has leased 111,000 square feet at a new industrial building in Ridgefield, in one of several newly announced transactions by Lee & Associates.
The firm last week said it represented Cubitac Corp., which specializes in flat-packed cabinetry, in the seven-year commitment at 4 Bell Drive. Its new home, which is part of a two-building development, will allow the company to expand its distribution capabilities beyond an existing facility.
Lee & Associates Senior Vice President Michael Schaible represented Cubitac Corp. Cushman & Wakefield represented Metro Point LLC/Baring, a subsidiary of Mass Mutual, which acquired the property as part of a forward sale from developer Sitex Group.
“We continue to see substantial demand across industrial property types as a wide variety of companies search for quality opportunities within the New Jersey marketplace, particularly in the Meadowlands and well located towns that offer close proximity to New York City and its ports along with a deep labor pool,” Schaible said.
Schaible also represented GraceKennedy Foods, a specialty food distributor, in its 125,000-square-foot prelease at 5 Ethel Blvd. in Wood-Ridge. The deal accounts for two-thirds of the new industrial project by Duke Realty, which was represented in-house and by Chris Hile and Brian Golden of JLL.
“In choosing 5 Ethel, GraceKennedy will be operating in one of the newest and most functional distribution facilities in the entire Meadowlands market, offering extraordinary accessibility to Manhattan and the rest of the (New York metro) area,” said Ben Rosen, vice president of leasing for Duke Realty in New Jersey. The warehouse features 36-foot ceiling heights, wide column spacing, 13 dock doors and ample car and trailer parking.
Meantime, Lee & Associates announced that Schaible represented Sitex in its acquisition of 100 West Forest Ave., a 72,000-square-foot industrial and flex building in Englewood. The property, which changed hands for $16 million, sits on 4.6 acres and offers easy access to Bergen County’s transportation arteries.
Lee & Associates will remain the property’s leasing agent.
“Michael’s performance demonstrates his deep industry knowledge and high-level expertise as evidenced by these completed transactions,” said Rick Marchisio, principal and president with Lee & Associates New Jersey. “He is a leader and a visionary and continues to strengthen Lee & Associate’s presence in the New Jersey marketplace.”
