Transwestern Signs Tenant for New Jersey Warehouse
- May 03, 2021
General Plumbing Supply will be moving its headquarters to a warehouse in Piscataway, N.J., that also allows for distribution and showroom space. The East Coast distributor of plumbing, heating and HVAC supplies signed a long-term lease for the entire 300,000-square-foot industrial property at 330 S. Randolphville Road.
The developers, a joint venture between Transwestern and QuadReal Property Group, broke ground on Piscataway Logistics Center in October 2020 and will complete the project in the fall. The two-building industrial project will include a 151,748-square-foot Class A warehouse building and a fully renovated 146,000-square-foot warehouse. Both of the warehouses are rear-load buildings with 36-foot clear heights, a combined 39 dock doors, parking for cars and trailers and a shared truck court depth of 185 feet. The warehouses are located 40 miles away from New York City and have direct access to Interstate 287.
Avison Young’s Tim Cadigan, Matthew Turse and Grant Otto represented the owners in the acquisition and leasing of Piscataway Logistics Center. General Plumbing Supply was represented by Avison Young’s Ed English and Ron Ganter and The Blau & Berg Co.’s Michael Schipper.
Steady demand for industrial
Brian Banaszynksi, regional partner for Transwestern’s Logistics Group, said in prepared remarks that the broad interest in Piscataway Logistics Center indicated the strength and significance of the New Jersey industrial market. According to Transwestern’s 2021 first quarter numbers, submarkets near Interstate 95’s Exit 10, including Piscataway and Edison, N.J., had only 1.8 percent of their existing inventory listed as vacant.
Other companies have also acted on the upward trend for New Jersey industrial market, with acquisitions nearby Transwestern’s project. North of Piscataway, Elion Partners acquired a 207,000-square-foot warehouse in Elizabeth, N.J. for $29.7 million in March. Further south of Transwestern’s logistics center, a 171,000-square-foot warehouse and distribution facility in Hamilton Township secured a $12.7 million construction loan in February.