Best Buy is the first tenant to lease space inside the Rockefeller Group’s 228-acre distribution complex in New Jersey.
Once finished, the electronics retailer will move into a 725,000 s/f building inside the Rockefeller Group Logistic Center in Piscataway. It will use the facility as a point of origin for electronics and appliances that will be shipped to 90 stores as well as directly to consumers in New York, New Jersey, Connecticut, Pennsylvania and Delaware.
“We’re excited to expand our supply chain capabilities with this new, larger distribution center,” Best Buy spokesman Jeff Shelman said. “With the growth of our appliance business and our strong market share position in home theater, this facility will help us serve our customers more effectively and more efficiently.”
Rockefeller was represented by Cushman & Wakefield brokers Jules Nissim, Stan Danzig and Marc Petrella, who served as the marketing and leasing agents on the deal.
With six buildings ranging from 200,000 s/f to 800,000 s/f, the center promises to be a state-of-the-art facility complete with 40-foot clearance heights, excess trailer parking, on-site rail service and two entrances as well as two exits to accommodate high volumes of traffic. Some of the center’s buildings will be constructed on spec while others will be built to suit with infrastructure tailored to individual tenant’s needs.
Clark Machemer, senior vice president and regional development officer for Rockefeller Group’s New Jersey/Pennsylvania operations, said Best Buy was an ideal candidate for the center, which he predicts will be among the state’s most coveted hubs.
“Furthermore,” Machemer said, “the company’s decision to take space in Piscataway is a testament to the market’s recognition of the Interstate 287 corridor as the next frontier for well-located industrial development in the state.”
The I-287 corridor has become a crucial artery for the growing e-commerce sector as a connector between New York, northern New Jersey and eastern Pennsylvania.
Best Buy expects to have its distribution center up and running by the 2018 holiday season.