30 Sigle Lane in Dayton — Courtesy: JLL
By Joshua Burd
Heller Industrial Parks has taken the wraps off nearly 675,000 square feet of new industrial space in South Brunswick, having tapped JLL as its first-ever outside leasing team for a project.
Brokers say the property, located at 30 Sigle Lane in the Dayton section, is the only immediately available logistics facility of its size in the Exit 8A corridor. It’s also the newest addition to the Heller Park North complex, offering 116 loading dock doors, 140 trailer positions and 40-foot clear ceiling heights across the 674,209-square-foot structure.
JLL vice chairmen Rob Kossar, Leslie Lanne and Joel Lubin, Senior Managing Director Gary Politi and Vice President Charlotte Belling lead the leasing team on Heller’s behalf. Notably, it’s the first time in Heller’s more than 50-year history that it has hired third-party brokers for a new building.
“We are thrilled to bring our experience in the industrial market to this first-of-its-kind partnership with Heller Industrial Parks, a forward-thinking developer with deep industrial expertise,” Kossar said. “As we are witnessing construction slowing down in this key corridor, 30 Sigle Lane is a uniquely desirable asset given the construction landscape — and a pivotal opportunity for occupiers eager to lock in well-located, modern industrial space to service increasing consumer demand in this region. We look forward to reintroducing this property to the market.”
JLL noted that 30 Sigle Lane has a modern design that can accommodate a range of material handling equipment, with modern column spacing to support so-called very narrow aisle racking and other high-bay racking options. Its location off New Jersey Turnpike Exit 8A provides immediate access to more than 24 million people living in the New York, New Jersey, Connecticut and Pennsylvania combined statistical area, while users are connected to national and international markets via highways, ports, railways and airports.
“This collaboration between our two organizations presents an exciting step for the Heller legacy — a dynamic combination of development expertise, market intelligence and best-in-class consulting,” said Jason Grebin, president of Heller Industrial Parks. “Our work together will enable strategic real estate decision making to support tenants with end-to-end logistics solutions and gaining advantage in the New Jersey industrial market.”
JLL added that a drop-off in construction starts caused by a difficult entitlement landscape and rising interest rates has resulted in just 1.8 million square feet of new industrial space being completed in the third quarter, citing its market research. Meanwhile, the firm said tenants are actively seeking roughly 17 million square feet of industrial space in the Garden State.
“With a dearth of space forecasted over the next 12 months, we anticipate a great deal of interest from e-commerce, food and beverage and other distribution companies focused on strong distribution channels that support continued growth,” Lubin said. “The Northeast’s dense population and strong existing labor force make 30 Sigle Lane an extraordinary proposition in a highly competitive market.”
