Listen to this articleThe basics:
- Cushman & Wakefield arranges 878K sq ft of leases at Central 9 Industrial Park in Old Bridge
- Lee & Associates – WBE secures a 50K-sf lease in Edison
- Bussel Realty leases 42K sq ft in Dayton to Core & Main LP
- Property upgrades, new development continue to fuel industrial activity statewide
Recent industrial leasing deals across New Jersey underscore demand for renovated and newly delivered sites that offer tenants room to grow.
Cushman & Wakefield arranged three leases totaling 878,500 square feet at Central 9 Industrial Park. The multiphase development will ultimately offer 4.2 million square feet of Class A logistics space.
2020 Acquisitions is developing the project in a public-private partnership with the Township of Old Bridge. The PILOT-benefiting property took home the industrial project of the year award from NAIOP New Jersey in 2024.
A CushWake team comprising Vice Chairs Mindy Lissner and Bill Waxman, Executive Managing Director David Gheriani, Directors Morgan Nitti and Michael Ugarte, and Senior Director of Supply Chain and Logistics Jeff Volpi exclusively market and lease the property. The group represented 2020 Acquisitions.
The leases:
- Linktrans leading firm in cross-border full-chain logistics
192,000-square-foot lease in Building 6
55 Jake Brown Road
Cushman & Wakefield Executive Vice Chair Chuck Fern represented the tenant - JD Logistics leading tech-driven supply chain solutions and logistics services provider
409,000-square-foot lease in Building 3
400 Fairway Lane
Cushman & Wakefield Executive Managing Director Jimo Liu represented the tenant - KCL Fulfillment AI-enabled large parcel fulfillment provider
277,538-square-foot lease for all of Building 5
800 Fairway Lane
Kidder Matthews represented the tenant
Room to grow
Upon completion, Central 9 Logistics will include nine buildings.
Construction on Phase II is set to begin in November. It will add another 1.6 million square feet by fall 2026, Cushman & Wakefield said.
“In a State where vacant land is a commodity, the scale of this project can offer current and future tenants the ability to grow their business and establish a logistics footprint that can grow with them,” said Lissner.
In the Oct. 29 announcement, 2020 Acquisitions CEO Efrem Gerszberg said the three leases came through in the past 45 days.
The global CRE services firm said the developer made significant public contributions as part of the P3. It referenced the development of an 18-hole public golf course, road and infrastructure improvements in the vicinity, and a donation toward the construction of a new firehouse.
Said Gerszberg, “The feedback from our tenants has been that Central 9 is unique in that it sits on a major highway near the Port of Elizabeth, has little labor competition with an untapped local labor force, and a long-term Tax Pilot. Our long-term, below-market real estate taxes have been a huge advantage, as tenants are expressing their concern of increased property taxes across Central New Jersey.”
Lee & Associates – WBE
In Edison, Lee & Associates – WBE New Jersey arranged an approximately 50,000-square-foot lease for Cangso Global Inc.
The warehouse at 240 Mill Road in Edison represents a strategic expansion and relocation of the company’s East Coast distribution ops, women-owned Lee & Associates – WBE said.
Director Jianning Meng negotiated the full-building transaction as tenant representative, according to an Oct. 28 announcement from the firm.
Fulfillment center Cangso Global specializes in comprehensive logistics solutions for e-commerce sellers.
The property offers immediate access to Interstates 95 and 287, as well as Route 1.
The space features four loading doors, 32-foot clear ceiling heights, 42-foot by 42-foot column spacing and an ESFR sprinkler system.
Meng cited the work of Heller’s management at the site. “The team completed major property improvements — including office renovations, LED lighting and sprinkler upgrades, and parking lot repaving,” she said.
Edison-based Bussel Realty Corp. leased the entirety of 5 Wheeling Road in Dayton to Core & Main LP.
BRC Senior Vice President Stephen Nozza represented the landlord, Budd Development Co. CBRE represented the tenant.
Situated on 5 acres, the 42,000-square-foot property sits near Exit 8A of the turnpike. It offers access to Routes 1 and 130.
Building features include: 21-foot ceilings, six tailboards, one drive-in, 1,200 amps of electric power, wet sprinklers, and extra land for trailer parking or outside storage.
CNM is a leading specialized distributor of water, wastewater, storm drainage, and fire protection products and services.
In the Oct. 27 announcement, Nozza noted he’s exclusively marketed all of the property owner’s New Jersey sites for more than two decades.
And Nozza is currently working on another Budd Development facility. Renovations at the 86,000-square-foot free-standing building at 332 Applegarth Road in Monroe include cross side tail board loading with new doors and elevators, new LED lighting, a new roof and parking lot, two extra stoned acres for trailer parking or outside storage.
“There is a shortage of these type of stand-along industrial properties which can accommodate various uses that are not possible in multi-tenanted warehouse currently available,” Nozza said.
