103 Bilby Road in Hackettstown — Courtesy: NAI James E. Hanson
By Joshua Burd
A warehousing and distribution firm has renewed its lease in Hackettstown amid plans to grow its third-party logistics business, brokers with NAI James E. Hanson said.
In a news release, the brokerage announced the 70,200-square-foot deal at 103 Bilby Road between Compac Corp., doing business as Trimas Corp., and Logical Warehousing LLC. NAI Hanson’s Barry Cohorsky and James Kenah represented the landlord, while Steve Sander of CBRE represented the tenant.
Brokers said that, with the continued growth of e-commerce, the space will allow Logical Warehousing to continue to expand its fulfillment service to further meet the growing needs of its customer base. The building is a 182,000-square-foot warehouse and flex property that includes 23,571 square feet of office space, seven loading docks and 139 parking spaces, with a location about seven miles from Interstate 80.
“For landlords in today’s market tenant retention can be vital for sustaining occupancy rates,” Cohorsky said in a prepared statement. “We were able to negotiate with the existing tenant to renew their lease to continue to occupy a facility that meets all of their current warehousing needs while providing our client with continued cash flow on their investment.”