301-321 Herrod Blvd. in South Brunswick — Courtesy: Lee & Associates New Jersey
By Joshua Burd
A third-party logistics firm has leased nearly 480,000 square feet of industrial space in Burlington, in one of two newly announced deals by Lee & Associates New Jersey.
According to the brokerage team, the undisclosed tenant will occupy the full building at 1620 River Road. Lee & Associates’ Drew Maffey and Rick Marchisio represented the user, an international third-party logistics provider, working alongside Michael Lee of Lee & Associates’ City of Industry, California, office.
Nate Demetsky of JLL represented the landlord in the 478,000-square-foot deal.
“This property’s Class A functionality and Burlington County address were major draws for our client, as was the opportunity to occupy the building as its sole tenant,” Maffey said. “The move to 1620 River Road will enable superior access to regional thoroughfares while maintaining proximity to the company’s additional area operations.”
In the second transaction, Maffey teamed with Will Ziegler and Matt Esposito of the New Jersey office to arrange a 255,000-square-foot sublease at 301-321 Herrod Blvd. in South Brunswick. The new occupier is a secure storage company, the brokers said, while Lee & Associates’ Dave Saltzman represented the sublandlord in the transaction.
“Flexible sublease terms were very attractive to our client,” Maffey said. “Ultimately, this property’s Class A features and Middlesex County location within the Exit 8A submarket created an ideal scenario. Both of these transactions speak to sustained tenant activity within the market — with the advantage going to quality product in prime locations.”
