HELLER INDUSTRIAL PARKS SIGNS LEASE FOR ENTIRE SPECULATIVE BUILDING
Edison, New Jersey
December 23, 2015
NEW 285,000 SF BUILDING AT EXIT 8A IS FULLY-LEASED WHILE STILL UNDER CONSTRUCTION
There’s more to celebrate this year than just the holidays at Edison, NJ based Heller Industrial Parks. One of the largest privately distribution center developers in the country, Heller announced today that it is has signed a long-term lease with All-Ways for this latest best-in-class building at Heller Park North in South Brunswick, NJ. This new distribution center is the first “from the ground up” speculative 40’ storage height warehouse to be leased in the 8A submarket. The construction just recently commenced in September 2015, so the building has a new tenant months before completion.
All-Ways is a new tenant to Heller’s portfolio as well as this submarket. However, they are not a new company by any means. For over 30 years, the logistics company has been servicing all aspects of the supply chain, offering a complete end-to-end solution to its clients. It is one of the fastest growing 3PLs with over 1 million square feet of existing operations in the Los Angeles market.
John Tesser and Mike Markey from Colliers International along with Casey Mungo of DAUM Commercial Real Estate Services represented All-Ways, and David Paster represented Heller Industrial Parks on the lease transaction. The tenant conducted an extensive search for months to select a new facility, and was willing to wait for this building’s completion instead of committing to an existing building.
“Our comprehensive market research indicated this was the right size building to start on a speculative basis,” said Brian Banaszynski, President of Heller Industrial Parks. “The building design, with 40’ top-of-product storage heights combined with parking for 85 trailers, was the key to attracting several prospective tenants for the project. Our sales and construction teams were highly coordinated and key to responding to the tenant’s needs, which made the leasing of this facility go smoothly.”
The driver behind the rapid pace of construction of the building has been two-fold: the extended mild fall weather, and Heller’s first use of pre-cast structural wall panels. It took only three months from ground-breaking until the building was “closed in” with the roof completed. The remaining building and site work continues at a rapid pace today, with a scheduled occupancy for early 2016.
Heller’s in-house engineering, construction and leasing departments are now proceeding with updating the designs for the balance of the 2.6 million square foot Heller Park North. “These new buildings will be a significant addition to the next generation of distribution centers built to satisfy the most stringent demands of today’s sophisticated storage, distribution and transportation logistics firms. Heller’s strategy has always been to secure locations and design buildings that will be highly desirable well into the future,” concluded Banaszynski.
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 16 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