By Joshua Burd
A logistics user has leased nearly 340,000 square feet at a new industrial building in Somerset County, in one of several newly announced deals by Cushman & Wakefield.
Brokers with the firm represented the tenant, National Distribution Centers LLC, in its commitment at 152 Route 206 in Hillsborough. The occupier is taking 338,954 square feet at what’s known as Midpoint Logistics Center, a multiphase property developed by Industrial Realty Group.
The deal was among more than 4 million square feet in leasing and sales activity year to date by the C&W team led by Chuck Fern. That includes more than 25 industrial transactions on behalf of owners, buyers and tenants, including 21 leases and four sales, mostly in the Garden State.
“New Jersey’s industrial market has remained strong throughout the pandemic, with the state experiencing historically low vacancy rates and record-high asking rents as robust demand for Class A space continues to outweigh supply,” Fern said. “During a time of such uncertainty about the future, my team has shown an unparalleled commitment to clients and I’m thrilled to continue our longstanding relationships with some of the state’s most prestigious industrial landlords and tenants.”
Fern’s team also recently represented the landlord at the 2020 Logistics Center @ Edison, located at 11 C Court South, to bring the 699,600-square-foot warehouse to 100 percent occupancy. JW Logistics is taking 346,858 square feet at the building, the brokerage said, while a large global e-commerce firm has leased 352,742 square feet.
Additionally, the group represented Duke Realty in its 622,000-square-foot lease to Bob’s Discount Furniture at 150 Old New Brunswick Road in Piscataway. Prior to the lease, the team represented Duke Realty in the acquisition of the 42-acre lot to develop the new facility.
