309,000 Sq. Ft. Lease Inked in Somerset, NJ
A furniture manufacturer has leased more than 300,000 square feet at Bridge Development Partners’ new industrial park in Franklin Township, NAI DiLeo-Bram & Co. announced.
In a news release, the brokerage firm said it represented the undisclosed tenant in the commitment at 481 Weston Canal Road. The user is relocating most of its operations from Edison to the newly constructed, 308,550-square-foot property in the township’s Somerset section.
NAI DiLeo-Bram Principal Eric Bram Johnston and Executive Vice President Christopher Galiano completed the assignment for the Piscataway-based firm. JLL represented ownership.
“We are pleased to have helped our client negotiate a lease at this Class A industrial property,” Johnston said. “This newly constructed property offers our client the opportunity to grow its business in a corporate park setting. Excellent access to the New Jersey Turnpike and major road networks allows for quick access from the ports and offers the ability to transport their product easily throughout the Northeast.”
The brokerage team noted that 418 Weston Canal Road is part of the new Bridge Point Somerset complex, which is directly off Interstate 287 and minutes from Exit 10 of New Jersey Turnpike.
“Working on this transaction when the pandemic began was extremely challenging, but all parties stayed in constant contact to work through the myriad of issues that needed to be solidified,” Galiano said.
The building features 36-foot clear ceiling heights, 78 trailer stalls, 50 loading docks and two electrically operated drive-in doors.
“New Jersey’s industrial market has seen consistent growth in recent years, and this lease is a testament to the enduring demand for first-class industrial spaces throughout the state,” said Jeff Milanaik, Bridge’s Northeast region partner. “We are very excited to welcome this manufacturer to this growing campus, and look forward to welcoming additional tenants looking for a well-located, modern home that can help their business thrive.”
