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Deals & Dealmakers

Coca-Cola reconfigures New Jersey real estate footprint

Coca-Cola, the world’s largest beverage company, has reconfigured its New Jersey footprint in a series of transactions arranged by Savills Studley.

Photo by Dennis Goedegebuure/ Flickr
Photo by Dennis Goedegebuure/ Flickr

Savills Studley Senior managing Director Daniel Foley has represented Coca Cola Refreshments in New Jersey for more than 20 years.

To achieve the firmʼs real estate goals, Savills Studey negotiated a lease extension at 60 Deans Rhode Hall Road.

That property encompasses a 230,000 s/f LEED Certified built-to-suit facility Coca Cola has occupied for approximately five years.

In addition, due to the installation of a new, automated loading system, Coca Cola Refreshments leased an additional 45 acres of adjacent land at 90 Deans Rhode Hall Road.

Forsgate Industrial Partners, the landlord of both 60 and 90 Deans Rhode Hall Road, agreed to improve the land for the company to use as both a parking and staging area. Forsgate was represented by Alex Klatskin, Steve Seiden and Andrew Moss, in-house.

Next, Coca Cola extended its lease for 243,000 s/f at 118 Moonachie Avenue, in Carlstadt, NJ, an industrial property that features 25,000 s/f of office space and is used primarily as a distribution facility. The landlord, Prologis, was represented by Paul Rosen in-house.

Savills Studley then negotiated the sale of the beverage company’s 42,180 s/f industrial site at 704 Route 35, in Neptune, New Jersey.

The property includes 13 acres of land and was sold to M&M Development LLC for an undisclosed amount.

Finally, Coca Cola Refreshments completed a sale of its 56,994 s/f facility at 1500 Livingston Avenue in North Brunswick, New Jersey, which encompassed nine acres of land, also to M&M Development. M&M Development was represented by Jeff Lagowitz of Savills Studley.

“Coca Cola Refreshment’s sophisticated real estate department is always a pleasure to work with,” Foley said.

Foley represented the beverage company in all five transactions along with Thomas Carragher and Chris Koeck of Savills Studley.

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