JLL has completed a 203,488-square-foot lease transaction for an apparel company, for the full new development at 85 Stults Road in South Brunswick, NJ.
The distribution and warehouse facility, now under construction, is a joint venture between EverWest Real Estate Investors and Accordia Realty Ventures. The apparel company signed a 10-year lease.
Brian Golden, managing director, at JLL, represented ownership and Joel Lubin, executive managing director and Gary Politi, senior vice president at JLL represented the tenant in the transaction.
EverWest Real Estate and Accordia Realty Ventures acquired 20 acres of land at 85 Stults Road, along with a 369,000-square-foot building at 83 Stults Road, from Hermann’s Services Inc. in 2017. One Stop Logistics leased the space at 83 Stults Road for a 10-year period in 2018, with JLL representing Accordia Realty Ventures and EverWest in the transaction.
85 Stults is located adjacent to the New Jersey Turnpike’s Exit 8A, a highly industrial market, and the ownership team worked for more than a year to secure approvals with the local municipality to build a new facility.
The project is currently under construction, and will include 36-foot clear ceiling heights, 52 loading docks, four drive-in doors, 38 car parking spaces and 75 trailer stalls. The distribution and warehouse facility is expected to be completed by the end of 2019.
“This is an ideal opportunity to take advantage of a centrally located facility that provides easy access to the greater New York region and the east coast,” said Golden. “The state-of-the-art facility offers close proximity to the New Jersey Turnpike’s Exit 8A at a time of limited supply in this demanding industrial submarket.”
JLL formed its Northeast Industrial Region in 2017.