The New Jersey division of Lee & Associates negotiated a long-term lease for Wenner Bread Products to move its manufacturing facility to a 301,626 s/f property at 571 Jersey Avenue in New Brunswick, NJ.
The 58-year old Long Island company has been a mainstay in the Long Island community since 1961 and will continue to support operations on Long Island, along with the New Brunswick facility, according to Lee & Associates.
The move, encouraged by state incentives including $30 million in tax credits over 10 years, will ultimately secure more than 250 jobs for New Jersey. The new large space for the national bread company comes following several years of growth and a need to expand capacity.
Wenner Bread Products is expected to occupy the new facility over the coming months and is currently in the process of retrofitting the building into a first class food production, baking, freezing and distribution facility.
A significant component of the overall construction project will be to realign and revive an inactive railroad spur leading onto the property with the goal of eliminating approximately 600 trucks annually off the New Jersey highway systems.
“It is not often that large companies like Wenner Bread Products make a big move to New Jersey,” Richard Marchisio, Lee & Associates presidentt.
“This deal has propelled great interest from other New York companies and we anticipate it will open the door for future activity in New Jersey. We see this as a huge stimulus for business growth in our state.”
Property owner TA Associates was represented by Cushman & Wakefield. Wenner Bread retained Ted Zangari of Sills Cummis & Gross P.C. as legal counsel for lease negotiations and incentives negotiations with the state Economic Development Authority.