HELLER INDUSTRIAL PARKS COMPLETES OVER 3.3 MILLION SF OF LEASES
Heller Industrial Parks, one of the nation’s largest private distribution center developers, announced today that in the first half of 2014 the company completed 30 transactions involving over 3.3 million square feet. This significant level of activity resulted in Heller maintaining 100% occupancy of its nationwide portfolio of over 15 million square feet.
“The first half of 2014 has been very active. The market conditions across our entire portfolio are very strong.” stated Brian Banaszynski, President of Heller. “In several instances, Heller was able to secure lease extensions and expansions well in advance of scheduled expirations. Tenants are also seeking to enter into longer term lease commitments, as the supply of well-located and well-maintained buildings such as Heller’s are becoming more limited in their availability. This level of activity puts Heller on pace to exceed last year’s high level of activity, which would be a significant accomplishment.”
Heller’s in-house leasing team of Steve Kaufman, David Paster, Allan Ramsay and Fred Kurtz worked closely with brokerage firms in multiple states in completing the transactions. Highlights of these transactions include:
· Alba Wine & Spirits new lease for 303,183 square feet in Edison, New Jersey. Larry Casey and Robin Ritter - Ceriello of Cassidy Turley represented Alba while David Paster represented Heller.
· Selective Transportation expanded and extended their lease for a total of 225,395 square feet in Edison, New Jersey. Joel Lubin of JLL represented Selective while Steve Kaufman represented Heller.
· Exel Logistics renewed their lease for 219,698 square feet and Frontier Logistics renewed their lease for 200,000 square feet in La Porte, Texas. Fred Kurtz represented Heller in both transactions.
· Multi-Group signed a new land lease for 258,455 square feet in Edison, New Jersey. Andy Parella of CBRE represented the tenant and Allan Ramsay represented the landlord.
“There were a large number of transactions ranging from 20,000 to 100,000 square feet so far this year. Heller designs its buildings in order to accommodate all size requirements,” continued Banaszynski. “While we are busy with the existing building portfolio, Heller continues to work on our fully-approved 2.6 million square foot project in South Brunswick (www.hellerparknorth.com), which is within the highly-desirable Exit 8A submarket. We are carefully monitoring market conditions to determine when to proceed with expanding our portfolio by developing the next generation of Heller Industrial Parks.”
About Heller Industrial Parks
Edison-based Heller Industrial Parks and I. Heller Construction were founded by Ike Heller in 1966. It is a full-service privately-held firm that develops, owns, leases and manages its own portfolio of over 15 million square feet of modern distribution and logistics buildings nationwide. Heller’s sites are strategically located with superior truck, rail and port access. Heller maintains over 170 acres of premier land sites ready for new development. For more information please see www.hellerpark.com