1 Debaun Road in Millstone — Courtesy: Avison Young
By Joshua Burd
A solar panel distributor has leased nearly 55,000 square feet of industrial space in the Monmouth County township of Millstone, brokers with Avison Young announced.
According to a news release, Soligent Distribution LLC will occupy the space at 1 Debaun Road under a deal with Scannell Properties. The commitment brings the 132,000-square-foot property to full occupancy, Avison Young said, noting that the tenant is relocating from about five miles away in the Exit 8A submarket.
AY’s Tim Cadigan, Matt Turse, John Gianis and Judy Troiano represented Scannell in the 54,973-square-foot lease, while Mike Maroon of the Acclaim Group and Lauren Pesqueda of Whitebox Real Estate represented the tenant.
“The lion’s share of market activity with regards to industrial leasing in New Jersey is certainly skewing towards properties of 100,000 square feet and smaller,” Cadigan said. “From this location, the tenant will be able to provide a solar panel distribution in a more convenient, centralized location, which is essential to their green/sustainability initiatives.”
