Cushman & Wakefield Arranges 103 KSF Sublease
- Jun 12, 2020
Cushman & Wakefield has negotiated a sublease for nearly half of a 220,912-square-foot industrial building in Mount Olive, N.J. Managing Director Stephen Sander assisted the sublandlord, Bosal USA, in securing the 102,839-square-foot commitment from board game manufacturer Breaking Games. Bosal USA is relocating and Breaking Games needed more warehouse space for its growing business, according to a statement.
Located on 56 acres at 200 International Drive, the warehouse was built in 1999. The facility has a 6,000-square-foot office component, 24-foot clear ceiling heights, nine loading doors and car and trailer parking. The Abu Dhabi Investment Authority, a sovereign wealth fund, has owned the building since 2015, when it acquired the asset from Exeter Property Group as part of a $3.2 billion industrial portfolio deal, according to Yardi Matrix data.
The building forms part of the International Trade Center office park nearby Interstate 80 in Morris County. Other facilities in the area include a FedEx Shipping Center, a UPS Customer Center and a KB Ingredients distribution center. Cushman & Wakefield noted in a statement that quality industrial assets in the I-80 corridor are in high demand with continuous positive absorption.
The brokerage recently represented Nuveen Real Estate in an 11,200-square-foot office lease with United Silicon Carbide at 650 College Road E. in Princeton, N.J. And last month, Advance Realty Investors tapped Cushman & Wakefield to oversee leasing efforts for Advance at Bedminster and Executive Quarters, two office parks totaling 143,500 square feet in Bedminster, N.J.