Principal Real Estate Investors is developing Crossroads Commerce Center, a 191,481-square-foot industrial building at 1980 Route 1 in North Brunswick. — Courtesy: Cushman & Wakefield
By Joshua Burd
The developer of what will be nearly 200,000 square feet of new industrial space in North Brunswick has tapped Cushman & Wakefield to lease the property.
Known as Crossroads Commerce Center, the 191,481-square-foot project at 1980 Route 1 is slated for delivery in the second quarter of 2023, according to a news release. C&W’s Mindy Lissner, Bill Waxman, Christine Eberle, David Gheriani and Chris Griffith will be marketing the property for lease on behalf of the landlord, Principal Real Estate Investors.
“We are thrilled to be selected by Principal Real Estate Investors to lease this new state-of-the-art asset, ideally located in the heart of New Jersey’s distribution corridor,” Lissner said. “In a market with vacancy rates below 2 percent, Crossroads Commerce Center provides high-quality industrial space ideal for warehousing and fulfillment.”
Crossroads Commerce Center will occupy 17 acres on the highway’s northbound side, at the intersection of Adams Lane. Upon completion, the complex will have built-to-suit office space, 40-foot clear ceiling heights, 29 tailboard doors, two drive-in doors and 31 trailer parking spots.
The developer and its brokerage team announced the assignment Wednesday, touting the site’s easy access to the state’s major highways and port infrastructure.
“Crossroads Commerce Center represents a unique redevelopment opportunity in a strong infill market,” said Rob Klinkner, managing director at Principal Real Estate Investors. “The center’s location is superb, offering direct access to the New Jersey Turnpike and to Port Elizabeth, one of the nation’s leading marine transport terminals. As the industrial market in New Jersey is poised to capture continued tenant growth, we expect to see significant demand for the well-located, state-of-the-art product like Crossroads Commerce Center.”
