301 Middlesex Center Blvd. in South Brunswick — Courtesy: CBRE Group Inc.
By Joshua Burd
A new 450,000-square-foot industrial building in South Brunswick is at full occupancy after its developer signed leases with two logistics providers, according to CBRE Group Inc.
The real estate services firm said the owner, IDI Gazeley, inked the leases at 301 Middlesex Center Blvd. with CDS Logistics and Best Logistics. The deals are for 250,000 square feet and 200,000 square feet, respectively, giving the tenants a location just off the New Jersey Turnpike at the speculatively built distribution facility.
The CBRE team of Steven Beyda, Mindy Lissner and Scott Belfer represented the landlord in the deal, according to a news release. Beyda, along with CBRE colleagues Kevin Dudley and William Waxman, represented Best Logistics, while Joe Nitti of Cresa represented CDS.
“Exit 8A is one of New Jersey’s hottest submarkets for industrial property, and this Class A facility provides an ideal location for premier third-party logistics providers like CDS and Best Logistics,” Beyda said. “To facilitate lease-up in a more timely manner, we utilized the latest technologies, including virtual reality tours, to draw greater interest from local and national prospective tenants.
“We ultimately decided to divide the building into a multi-tenant facility, and IDI Gazeley was able to pursue the subdivisions without a hitch. These leases also mean that all three buildings at Middlesex Center are now fully occupied, providing further evidence of the continued strength of New Jersey’s industrial market.”
Sitting less than 30 miles from the port terminals of New York and New Jersey and Newark Liberty International Airport, 301 Middlesex includes 36-foot ceiling heights, ESFR sprinkler systems and cross-docked loading, the news release said. The overall complex also has tenants such as Williams-Sonoma.
“CBRE had some unique marketing concepts that helped lease the building within only six months of the assignment,” said Doug Armbruster, senior vice president and regional director of IDI Gazeley’s east region. “CDS and Best Logistics are among the most prestigious logistics providers in the region, and we’re very excited to welcome them to our property.”