195 Raritan Center Pkwy. in Edison — Courtesy: Zimmel Associates
By Joshua Burd
A trio of industrial tenants have inked leases in central New Jersey in a series of deals arranged by Zimmel Associates, the Edison-based brokerage firm said Monday.
The transactions total nearly 200,500 square feet and include sites in Middlesex and Somerset counties, Zimmel said in a news release. In the first, President David Zimmel represented building owner Mobile Star LLC in a 70,000-square-foot lease at 195 Raritan Center Pkwy. in Edison.
The tenant, Royal Enterprise Inc. is a full-service distributor of bulk candy, chocolates and novelty products based in Mount Laurel, the news release said. Zimmel is the exclusive broker for the 117,000-square-foot building, while Doug Bansbach and Linda Hill of Cushman & Wakefield’s Edison office represented Royal Enterprise.
“We had a lot of activity on the building from the time we were assigned the exclusive a few months ago,” Zimmel said in a prepared statement. “The rent was competitive for a highly convenient Raritan Center location that offers quick access to the New Jersey Turnpike, the Garden State Parkway, Route 287 and more.”
In the second deal, also in Edison, Zimmel negotiated a seven-year lease for 106,464 square feet at 75 Carter Drive. Zimmel represented Romeo and Layla Warehousing Inc., a storage and warehousing company headquartered in New York City, while Lou Belfer of CBRE served as the landlord’s representative for Caro Associates.
“Romeo and Layla’s lease was coming up for renewal and they hired our firm to do a market assessment and negotiate a renewal on their behalf,” said Zimmel. “The New Jersey warehouse space market has tightened in recent years and rents have increased. They took a proactive approach to fully understand their options, improve their negotiating leverage, and get the best deal.”
In the third transaction Jordan Zimmel, vice president at Zimmel Associates, brokered the long-term lease of a 24,000-square-foot building at 27 Kearny St. in Bridgewater. The tenant was Prestige Millwork LLC, which manufactures and installs architectural woodwork and custom cabinetry.
Zimmel represented both the tenant and landlord, the news release said. The building is located in Bridgewater Business Park, a Zimmel Associates exclusive assignment, and is owned by Denholtz Associates.
