The first property is a 507,000-square-foot distribution facility lease with DSV Global Transport and Logistics at 1005 W. Middlesex Ave. in Woodbridge. Doug Bansbach of Cushman & Wakefield represented the tenant.
The second property is a 360,000-square-foot distribution facility lease with a prominent retailer at 50 Middlesex Ave. in Carteret. Scott Belfer of CBRE represented the tenant.
“DSV Global is a prominent customer of Prologis, leasing over five million square feet from us in 10 countries and we’re pleased to be working with them in New Jersey. We’re equally excited to welcome an additional customer to our Port Reading Park, which will allow this retailer to grow their supply chain to better serve stores in the region. Both customers demonstrate the enormous potential of continued growth in the New Jersey real estate market,” Mark Shearer, senior vice president at Prologis and market officer in New Jersey, said in a prepared statement.
“We’re continuing to see record demand for quality product in the New Jersey industrial sector, and this recent pairing of significant lease transactions that we facilitated on behalf of Prologis is a testament to the overall market momentum,” Thomas Monahan, executive vice president at CBRE, said in a prepared statement. “While both of these properties boast a roster of sought-after industrial features, location and transportation access continues to be the most prominent drivers of activity in the state.”
About CBRE Group, Inc. CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the worldís largest commercial real estate services and investment firm (in terms of 2014 revenue). The Company has more than 52,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 370 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our website at www.cbre.com.