A rendering of 276 Old New Brunswick Road in Piscataway — Courtesy: Colliers International
By Joshua Burd
A third-party logistics company has committed to a major expansion with a newly signed lease at a Piscataway industrial building, brokers with Colliers International said.
The real estate services firm said it represented the tenant, Global Transport Logistics Inc., in the 253,575-square-foot lease at 276 Old New Brunswick Road. Global Transport, which is relocating from Fair Lawn, is nearly doubling its regional warehouse footprint as part of its move to the newly built facility.
Noah Balanoff of Colliers’ Parsippany office handled the assignment alongside Chuck Littell, who is based in the firm’s Los Angeles office. The brokerage team also credited Gregory Healy, who leads Colliers’ supply chain and logistics consulting group, with developing Global’s relocation strategy.
JLL represented the landlord, Industrial Property Trust Inc.
“Our client was near capacity and continues to grow their customer base, so this was an opportune time to optimize their distribution and transportation to drive delivery costs down and increase service levels,” Balanoff said. “Gregg and his team examined Global Transport Logistics’ customer and delivery locations to identify the best location.
“Within the local market, 276 Old New Brunswick Road offers all the efficiencies and functionality of new industrial construction. The property is an ideal fit.”
Global Transport Logistics is a licensed air, ground and ocean freight forwarding company, specializing in the consolidation and transport of less-than-truckload and truckload freight, Colliers said. Balanoff said Industrial Property Trust “was extremely helpful and creative in its efforts to bring Global Transport Logistics to its new development project,” adding that the transaction benefited from Colliers’ ability to tap a large broker network and service platform.
“Chuck, who recently assisted Global with an expansion in Southern California, tapped into our local office to provide market knowledge and hands-on leadership,” he said. “This, combined with the involvement of our supply chain specialty group, ultimately created a solution that provides efficiency and real estate cost savings, while positioning this valued client for strong future growth.”
