Duke Realty Corp. is building a 216,892-square-foot speculative industrial building at 1570 South Washington Ave. in Piscataway, as depicted in this rendering. — Courtesy: Duke
By Joshua Burd
Duke Realty Corp. has leased nearly 217,000 square feet to JD.com, China’s largest direct online retailer, filling a speculative industrial building under construction in Piscataway.
The facility, located at 1570 South Washington Ave., will become part of JD.com’s vast logistics network upon completion this fall, according to a news release. Plans call for 216,892 square feet with 40-foot clear ceiling heights, 34 dock doors, 38 trailer spaces and parking for 125 cars, with a location just off Interstate 287 and six miles from the New Jersey Turnpike.
The real estate investment trust broke ground on the project earlier this year.
“Demand for distribution space along the New Jersey Turnpike corridor remains excellent and the vacancy rate for industrial space in the 287 Corridor submarket continues to hover near all-time lows,” said Ben Rosen, vice president of development and leasing in New Jersey for Duke Realty. “This type of well-located and highly functional distribution facility is what Duke Realty is known for and it is no surprise that we were able to quickly secure a lease for this speculative development.”
Rosen and Gregg Bazzani, Duke Realty development associate in New Jersey, represented ownership alongside Noah Balanoff and Jacquelyn Severino of Colliers. Andy Ho of Kander Pacific Inc. and Chuck Fern, Jason Barton and Thomas Tucci of Cushman & Wakefield represented JD.com in the lease negotiations.
The deal comes as part of the REIT’s fast-growing footprint in Piscataway and in New Jersey. For JD.com, the facility will be among more than 1,300 warehouses around the world, providing it with easy access to Newark Liberty International Airport and Port Newark-Elizabeth.
“We have been working with Piscataway Township for some time to develop thoughtful, sustainable industrial facilities that generate tax revenue, remediate brownfield sites and create jobs,” Rosen said. “By working collaboratively, we have provided our tenants with strategically located modern warehouses and continued to be responsible corporate citizens of the communities we serve.”
Duke Realty kicks off 217,000 sq. ft. spec warehouse in Piscataway