140 Circle Drive North in Piscataway — Courtesy: Levin Management Corp.
By Joshua Burd
A shoe wholesaler has signed a full-building lease for a 103,350-square-foot warehouse in Piscataway, representatives with Levin Management Corp. said Wednesday.
The New York-based tenant, R&J Warehouse, has inked the commitment at 140 Circle Drive North as part of an expansion, LMC said in a news release. It will take occupancy of the single-story building in late summer after the current tenant’s lease expires.
The property is part of the Rutgers Industrial Center, a five-building, 535,000-square-foot complex in Piscataway. LMC announced the deal as the property’s asset manager.
“The fact that the building will experience no period of vacancy reflects current market fundamentals,” said Robert Carson, LMC’s executive vice president. “The industrial/warehouse sector is performing extremely well, and this lease clearly demonstrates sustained demand for quality space in northern and central New Jersey.”
Carson said R&J was drawn to the site because of its highway access, citing its proximity to Interstate 287 and location just five miles from the New Jersey Turnpike. The transaction marks the third new lease signing at Rutgers Industrial Center in the last 18 months, LMC said.