Duke Realty Inks Full-Building Industrial Lease in NJ
- Apr 17, 2018
Duke Realty has signed a long-term lease for its building at 10 Broadway Road in Cranbury, N.J., to be fully occupied. RAB Lighting, a manufacturer of indoor and outdoor LED lighting and controls, will relocate and expand its northeast distribution center operations in the new 264,085-square-foot facility.
“This building provides RAB with excellent access to Interstate 95 and includes the state-of-the-art features we need for efficient storage and fast distribution to our customers in the Northeast,” said Ross Barna, CEO of RAB Lighting, in a prepared statement.
Duke purchased the asset as part of a 3.1 million-square-foot New Jersey industrial portfolio in October 2017. The acquisition featured six Class A buildings and two development sites, all of which are located along Interstate 95 from the Exit 8A submarket north to the Meadowlands. The rear-load building features 36-foot clear height, two 12-foot by 14-foot drive-in doors, a 130-foot trailer court, 42 nine-foot by 10-foot dock doors, 55-foot by 44-foot bay spacing and parking for 89 cars and 11 trailers.
Cushman & Wakefield’s Chuck Fern represented both Duke Realty and RAB Lighting in the deal. Duke Vice President of leasing and development Ben Rosen and Leasing Representative Caitlin English negotiated the lease on behalf of Duke Realty.
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