ProLogis Signs 7 Lease Agreements in New Jersey
- Nov 04, 2008
ProLogis has signed seven new lease agreements in New Jersey representing a total of approximately 490,600 square feet during the third quarter of 2008.“New Jersey remains a prominent distribution location for companies looking to support regional or national supply chain networks,” Paul Loosmann, senior vice president and northeast regional director for ProLogis, said in a release. “The region offers exceptional highway access and proximity to a number of population centers in the northeast, which is key in attracting and retaining customers.” The third quarter transactions include leases with: Packaging and Distribution Resources, a third-party packaging and distribution provider, which leased approximately 82,000 square feet at the Exit 10 Distribution Center in Sayreville. The new lease agreement will be an expansion of the company’s current distribution operations at an adjacent building in the same park. The company now leases a total of approximately 216,000 square feet with ProLogis in New Jersey.Spectrum Plastics, a manufacturer of plastic packaging products, which leased 80,000 square feet at the National Distribution Center in Edison. This is Spectrum’s first lease with ProLogis. The company chose this location for rail service availability.Bartlett Distribution Services, a third-party logistics provider, which leased approximately 75,400 square feet with ProLogis at Clifton Distribution Center in Clifton. This is Bartlett’s first lease agreement with ProLogis; the company has now expanded its distribution operations from Jamaica, N.Y. to include this new location in northern New Jersey. Fleet Pride, an independent distributor of heavy-duty parts in the United States, which leased approximately 18,800 square feet at the Exit 10 Distribution Center in Edison. The agreement marked the second lease between the two companies; Fleet Pride now occupies a total of approximately 29,400 square feet of distribution space with ProLogis.Staples, Intelect Corp. and a leading third-party logistics provider, which together leased a total of 234,400 square feet in central New Jersey.Leslie Lanne, senior marketing representative for ProLogis, represented the company with the four transactions in northern New Jersey while Lisa Clark, vice president and market officer for ProLogis, represented the company in central New Jersey.