461 Ridge Road in South Brunswick — Courtesy: Woodmont Industrial Partners/Sagard Real Estate
By Joshua Burd
A joint venture has landed a tenant for a newly renovated warehouse in South Brunswick, leasing more than 104,000 square feet to a third-party logistics firm.
The owners, Woodmont Industrial Partners and Sagard Real Estate, said Federation Distribution Services Inc. will occupy half of the facility at 461 Ridge Road. The newly signed, 65-month lease follows the completion of a multimillion-dollar, dual-stage redevelopment and improvement project that substantially upgraded the existing 144,000-square-foot facility with a new sprinkler system, LED lighting, office appendages and dock doors.
A second phase involved a 65,000-square-foot addition from the ground up, increasing the property’s footprint to 209,000 square feet of high-end warehouse space.
“The Exit 8A submarket is one of the premier industrial submarkets in the tristate area,” said Anthony Amadeo, an executive vice president with Fairfield-based Woodmont. “Its prime location, with access to 33 percent of the U.S. population within a 24-hour drive, makes it ideal for companies expanding in the Northeast.
“We’re pleased to welcome Federation Distribution Services to 461 Ridge Road, and we look forward to continuing to deliver industrial properties that meet the persistent tenant demand in the Turnpike corridor. In addition, we truly value our relationship with Sagard and the ability to seamlessly work together to ensure the success of our projects.”
JLL’s Gary Politi and Michael Viera represented Woodmont and Sagard Real Estate, while Monica Franco of Lee & Associates – WBE LLC represented the tenant in the 104,451-square-foot transaction. The leasing team noted that Federation Distribution Services has provided third-party logistics services in New Jersey and California for more than 45 years, while the facility at 461 Ridge Road will support its warehousing and distribution operations while expanding its footprint in New Jersey to more than 500,000 square feet of warehouse and distribution space.
“The rapid lease-up of 461 Ridge Road demonstrates Woodmont and Sagard Real Estate’s expertise in redeveloping assets to meet the needs of today’s tenants,” said Camila Grello, managing director for asset management at Sagard Real Estate. “We appreciate Woodmont’s partnership and are proud to celebrate the success of our fourth industrial project together.”
Woodmont, Sagard unveil newly expanded 210,000 sq. ft. warehouse at Exit 8A
