Colliers Secures 181 KSF NJ Industrial Lease
- Sep 12, 2017
Colliers International closed a 181,000-square-foot industrial lease within Linden, N.J., to public warehouse and intermodal transportation company ASA Apple Inc., which is expanding its regional distribution operations.
Owned by Prologis, the 385,140-square-foot property is located at 55 Wildcat Way. Built in 2009, it features 27 dock doors, one drive-in door, 232 parking spots and 21 trailer parking spaces. Additionally, the property includes 2,940 square feet of office space.
The facility has direct access to Linden Airport and is 3 miles away from New Jersey Turnpike’s Exit 13. It also provides easy access to the Port Elizabeth and Newark Liberty International airports. The property is anchored by JFC International, a distributor of Asian food products.
Colliers’ Richard Mirliss, Richard Madison and Alex Vitro represented the tenant in the lease transaction. CBRE’s Tom Monahan acted on behalf of Prologis, which purchased the property in 2015 as part of an $820 million portfolio sale of 21 properties from The Morris Cos. The property is currently fully leased.
“Our client needed a NJ Turnpike-accessible location proximate to its other facilities in and around the Port Newark-Elizabeth area,” Mirliss said in a prepared statement. “This property fulfilled its geographic requirements, along with above-standard trailer parking, which was another prerequisite.”
The Colliers’ team is also handling the leasing of Overlook Corporate Center in Little Falls, N.J., a Class A office asset that recently underwent a multimillion-dollar renovation.
Image courtesy of Yardi Matrix