1100 Randolph Road in Somerset — Courtesy: Bussel Realty Corp.
By Joshua Burd
A roofing and gutter manufacturer has leased more than 100,000 square feet of industrial space in Franklin’s Somerset section, in a newly announced deal by Bussel Realty Corp.
The tenant, Englert Inc., will occupy just over half of the 207,192-square-foot building at 1100 Randolph Road, whose owner is also planning new construction at the property. BRC’s Anthony Rittwager, Matthew Phillips and Jordan Metz represented the landlord, JWH Real Estate Holding Corp., while Cushman & Wakefield represented the tenant.
The 103,264 square-foot deal follows BRC’s appointment early this year as the property’s leasing agent. The team has been marketing the existing space as well as new construction that would bring another 102,393 square feet to the parcel, seeking to capitalize on its proximity to Interstate 287 and the New Jersey Turnpike.
The new space is slated to have 36-foot clear ceiling heights.
“We created a competitive bidding environment leveraging our teams’ exclusive approach to data aggregation and predictive analytics, which secured multiple aggressive offers for 1100 Randolph Road,” Rittwager said. “Our marketing platform and tenant evaluation process led to a long-term excellent-credit occupant who will be investing considerable capital to create their largest global distribution hub.
“While every deal presents unique obstacles that may even seem insurmountable to some, our methodical win-win approach of viewing challenging situations in novel ways ensured great success for both parties. This transaction further substantiates our bullish outlook on Somerset’s industrial market and solidified ownership’s decision to construct a 102,393-square-foot expansion with modern clear heights deliverable (in the second quarter of) 2023.”