NJ Turnpike Industrial Facility Lands New Tenant
- Jan 25, 2019
Johnstone Supply, a leading HVACR equipment supplier, has signed a lease for 13,600 square feet of space at 3 Corporate Drive in Cranbury Township, N.J. The facility will be the company’s 11th location in the state and will be used as a showroom and warehouse for the cooperative wholesale distributor. NAI James E. Hanson arranged the deal.
Situated 45 miles southwest of Manhattan and 60 miles northeast of Philadelphia, the location is ideal for distributors, enabling them to reach one third of the American population in a one-day drive. The building encompasses a total of 54,000 square feet, with 28-foot ceilings and 7,000 square feet of office space.
“The Exit 8A industrial market continues to be one of the most sought-after locations for warehousing and distribution in the state, as major transportation arteries such as the New Jersey Turnpike offer unmatched access to millions of consumers,” said NAI James E. Hanson Vice President Steven Leitner, in a prepared statement. “Looking to expand their operations in New Jersey, Johnstone Supply recognized that a well-located property in the heart of the Exit 8A market would serve as an ideal location to support their continued growth.” Leitner worked on behalf of the tenant, while landlord Kerzner Associates was represented by its president, Sandy Kerzner.
Johnstone Supply was established in 1953 in Portland, Ore., as a single store to serve local contractors. The company is now the top cooperative wholesale distributor in the U.S., with one of the largest selections of OEM parts for HVCAR contractors. Currently, the firm has more than 425 locations across the U.S. and Canada.
Popular industrial location
Johnstone is not the only large company to choose Cranbury Township as an industrial location. In April, Duke Realty signed a long-term lease for its 264,085-square-foot building at 10 Broadway to be fully occupied by RAB Lighting. The manufacturer of indoor and outdoor LED lighting and controls planned to relocate and expand its Northeast distribution center operations in the newly built warehouse. Duke had purchased the asset in October 2017 as part of a 3.1 million-square-foot industrial portfolio of six Class A buildings and two development sites in the Exit 8A submarket.
In April 2017, Amazon selected Cranbury Township for a 900,000-square-foot fulfillment center, one of three totaling 2.8 million square feet that it planned for New Jersey at that time.
Image courtesy of NAI James E. Hanson