15 Stults Road in Dayton — Courtesy: Team Resources
By Joshua Burd
A logistics firm for the pharmaceutical sector has leased more than 60,000 square feet in South Brunswick, in one of three recent deals announced by Team Resources Inc.
The brokerage firm said it represented the landlord in the deal at 15 Stults Road, in the township’s Dayton section, where Woodfield Distribution leased 63,506 square feet. Joseph Manganaro, chief operating officer of Team Resources, and Jeffrey Manganaro, a salesperson with the Lyndhurst-based firm, completed the assignment.
“Built in 2016 and located in the supply constrained 8A corridor, 15 Stults provided Woodfield Distribution with additional space for their expanding operations,” Jeffrey Manganaro said in a prepared statement. “(The) landlord achieved full asking rent given the competition for efficient, well-located warehouse space in this Central NJ market.”
Michael Kimmel and Jason Goldman of Cushman & Wakefield represented the tenant.
Team Resources also announced a lease at a property on Old Flanders Road in Netcong, where United States Mineral Products, also known as Isolatek International, renewed for 40,000 square feet. Senior Vice President Edward Schein Sr. and Vice President Jeffrey Fulton represented the tenant, while Ronald Kraft of Allied represented the landlord.
“The tenant chose this property due to its proximity to another one of their facilities, which allows them to move their materials with ease,” Schein said.
Meantime, Team Resources CEO David Cantor and President Gregory Sholom represented the owner of 55 Hartz Way in Secaucus in a 25,000-square-foot lease to Arister Group. The tenant will use the space for offices, showrooms and storage,” Sholom said.
Jonathan Klear of NAI Mertz represented the tenant.