Richboynton Road Industrial Park at 23-51 Richboynton Road in Dover — Courtesy: W.P. Properties
By Joshua Burd
W.P. Properties has leased 40,000 square feet in Morris County to a local e-commerce distributor, in the largest of several transactions at an industrial complex near Route 46.
The firm, the owner of the Richboynton Road Industrial Park in Dover, inked the lease after the undisclosed tenant outgrew an existing space nearby. It announced the deal at 23-51 Richboynton Road while touting the park’s proximity to Interstate 80 and to a vibrant labor market, which “played a large role in their decision process.”
The recent transaction came as part of W.P. Properties’ effort to backfill 100,000 square feet at the complex after a tenant turned over the space in early 2020. Jeffrey Barnish, a partner with the Denville-based firm, said the company also leased 27,000 square feet to a Manhattan-based online furniture consignment company.
Ed Schein and Jeffrey Fulton of Team Resources Inc. represented the tenant.
“To turn over and fully lease out the recently vacated space during COVID is a testament to hard work and the strong demand for quality industrial space in Morris County,” Barnish said.
The other deals at the park include a 23,700-square-foot expansion by a packaging equipment company, Barnish said. W.P. Properties also inked leases of 4,900 square feet and 4,400 square feet to a manufacturer and a packaging and fulfillment company, respectively.