Leasing “Alive and Well” in N.J. during 2nd Quarter, Aggressive Owners Fare Well

EDISON, N.J., July 13, 2009 – Cushman & Wakefield’s Edison-based industrial team completed nine lease transactions totaling more than 1.3 million square feet during the second quarter of 2009. This impressive performance illustrates that tenant activity continues in New Jersey and that landlords willing to make aggressive deals are benefiting.

The recent transactions negotiated by Frank Caccavo, Jason Goldman, Andrew Siemsen and Glenn Talavera as landlord representatives include:

· A 248,000-square-foot new lease by Lasar Logistics at 147 West Manor Way in Washington Twp. Allianz owns the property. Chuck Fern of Jones Lang LaSalle represented the tenant.
· A 233,515-square-foot lease renewal/expansion, including 66,485 of additional space, by LA Enterprises at 231 Herrod Blvd. in South Brunswick. The tenant was represented by Doug Fura of NAI Farbman and David Nenner of RREEF – the building’s owner.
· A 232,886-square-foot new lease by Market Resource Packaging at TIAA-CREF’s 260 Prospect Plains Road in Cranbury in tandem with JRT Realty Group. Joel Lubin of Jones Lang LaSalle served as tenant representative.
· A 223,200-square-foot new lease by Mystic Logistics at Allianz-owned 147 West Manor Way in Washington Twp. David Saltzman from Newmark Knight Frank served as tenant representative.
· An 83,200-square-foot renewal for Invacare Corporation at Allianz’s 111 Interstate Blvd. in South Brunswick. John Lieser of McBride Corporate Real Estate served as tenant representative for this transaction.
· A 58,627-square-foot new lease for Papa Johns at TIAA-CREF’s 1267 South River Road in Cranbury in tandem with JRT Realty Group. The tenant representative was Lincoln Property.
· A 31,820-square-foot new lease for Ingram Micro at 10 New Maple Ave. in Pine Brook. High Street Equities owns the property. Dan Harrison of Newmark represented Ingram Micro.
· A 134,027-square-foot lease for Kellogg’s at PPF Industrial’s 112 Melrich Road in South Brunswick. Greg Nowell and Chris Santoro of Sitar represented the tenant.

Caccavo, Goldman, Siemsen and Talavera also served as tenant representatives in:

· A 48,000-square-foot new lease by Amerlux Lighting Systems, LLC at 19-21 Daniel Road in Fairfield. Howard Weinberg of Colliers Houston served as landlord representatives for a private individual owner.
· A 47,929-square-foot new lease for Prince of Peace Enterprises Inc. at 2344 Route 130 in South Brunswick in tandem with Ray Musalo of Alliance Real Estate. Joel Lubin and Charles Fern of Jones Lang LaSalle served as landlord representatives for property owner Pro Warehouse.

“Industrial leasing is alive and well in 2009,” said Goldman, a Cushman & Wakefield executive director. “New Jersey is and always will be a highly desirable location for industrial users. Within this context, owners that can distinguish their properties will attract companies – even in tough times. The key to securing leases in today’s tenant market is a willingness on the part of landlords to be competitive and creative.”