Cassidy Turley Named Exclusive Sale and Leasing Agent for Two Industrial Properties in Monroe Township, N.J.
SOMERSET, NJ (JUNE 5, 2012)– Cassidy Turley, a leading commercial real estate services provider in the U.S., today announced that it has been named exclusive leasing agent for two industrial properties in Monroe Township, N.J. Cassidy Turley Executive Vice President Charles Fern and Associate Vice President Jason Barton are handling the assignments.
The larger of the two properties, a 146,529-square-foot building located at 20 South Middlesex Ave., is available for sale or lease. Situated on 11.04 acres, the building includes a mix of 128,054 square feet of warehouse space, 13,800 square feet allocated for main office use and 4,675 square feet for a shipping office. It has 13 tailgates, two drive ins, a 26-foot clear ceiling height and 117 car parking spaces. Trailer parking and furniture is available. The property, which is available immediately, also has expansion potential for an additional 40,000 square feet and is just two miles from Exit 8A with New Jersey Turnpike frontage.
Approximately 40,000 square feet is also available for sale or lease at 24 Abeel Road. Set on a 3.20-acre fenced lot, the property has a 24-foot clear ceiling height with a 6,200-square-foot office area, one drive in and four tailboards. The site is two blocks from a New Jersey Turnpike entrance, approximately one-half mile from Interchange 8A. The property will be available in October.
According to Cassidy Turley’s first-quarter 2012 industrial market report, the Exit 8A submarket now has experienced eight quarters of consecutive positive absorption, and the vacancy rate is currently 8.3 percent less than its peak of 21.3 percent in the third quarter of 2009.
“The numbers suggest that businesses are seeking out well located and maintained industrial properties in this submarket,” stated Fern. “The decreasing vacancy rates in this submarket also send a positive signal to potential investors, so we believe there will be significant demand for both sites.”
About Cassidy Turley
Cassidy Turley is a leading commercial real estate services provider with more than 3,600 professionals in more than 60 offices nationwide. The company represents a wide range of clients—from small businesses to Fortune 500 companies, from local non-profits to major institutions. The firm completed transactions valued at $22 billion in 2011, manages 455 million square feet on behalf of institutional, corporate and private clients and supports more than 28,000 domestic corporate services locations. Cassidy Turley serves owners, investors and tenants with a full spectrum of integrated commercial real estate services—including capital markets, tenant representation, corporate services, project leasing, property management, project and development services, and research and consulting. Cassidy Turley enhances its global service delivery outside of North America through a partnership with GVA, giving clients access to commercial real estate professionals in 65 international markets. Please visit www.cassidyturley.comfor more information about Cassidy Turley.