5 and 9 Aspen Drive in Randolph — Courtesy: Resource Realty of Northern New Jersey
By Joshua Burd
A moving and logistics firm is expanding its footprint with a new lease and a renewal at adjacent buildings in Morris County, according to Resource Realty of Northern New Jersey.
The brokerage firm said the tenant, Armstrong Relocation Co., recently committed to 40,000 square feet at 5 Aspen Drive in Randolph. The building will now become the home to Armstrong’s growing moving and storage division, while allowing it to locate its third-party logistics and fulfillment business into the neighboring building at 9 Aspen Drive.
Resource Realty’s Brian Wilson represented both the landlord, North Jersey Development, and Armstrong. He noted that the tenant simultaneously renewed its 84,000-square-foot lease at 9 Aspen Drive, which is next door, adding that the transactions required one additional step.
“Armstrong’s lease at 9 Aspen Drive was coming up for renewal but they needed more than its 84,000 square feet to allow for their expansion,” Wilson said. “However, there was an existing tenant, Suburban Furniture, in the adjacent 5 Aspen Drive building. We were able to find space for Suburban to relocate and downsize into 27,000 square feet at 102 Iron Mountain Road, freeing up 5 Aspen for Armstrong’s expansion. It was truly a win for all parties.”
Armstrong’s new home at 5 Aspen Drive has 46-foot clear ceiling heights, 12 loading docks, a drive-in door and a substantial truck parking area, Resource Realty said.