Jones Lang LaSalle Named Exclusive Leasing Agent for Class A Distribution Facility in Sought-After Exit 8A Submarket
At 225,000 square feet, property offers newly constructed, free-standing warehouse space with up-to-date features
SOUTH BRUNSWICK, N.J., Feb. 5, 2013 — Jones Lang LaSalle today announced that it has been named exclusive leasing agent for 11 Commerce Court West, a 225,590-square-foot, Class A distribution facility in South Brunswick, N.J.
A team comprising Executive Vice Presidents Jonathan B. Tesser, SIOR, and Mike Markey; Vice President Adam Citron; Managing Director Joel Lubin; and Associate Chad Hillyer will market the property on behalf of Seagis Property Group LP, a leading owner of industrial real estate in New Jersey, the New York Metropolitan area and South Florida.
A freestanding facility, 11 Commerce Court West boasts a prime location less than a quarter mile from Exit 8A of the New Jersey Turnpike. Features include 32-foot clear ceilings, 29 tailgates – expandable to 35 – and an Early Suppression, Fast Response (ESFR) sprinkler system. All doors have 35,000-pound dock levelers. Built in 2007, the single-story facility is located on a 15.28-acre tract of land and has 133 surface parking spaces and 20 industrial trailer spaces.
“In recent times, the Exit 8A submarket has been one of the best-performing markets in New Jersey,” Tesser said. “In fact, thecentral New Jersey industrial market experienced in excess of 3.18 million square feet of positive net absorption in 2012, and the majority of that absorption was in the Class A product type, making this modern site highly attractive to a variety of business sectors.”
Founded in March 2005, Seagis owns 139 buildings in its nine-million-square-foot portfolio with a particular focus on the New Jersey, metro New York and Miami/Ft. Lauderdale markets.
“There are very few opportunities of this quality and size range, particularly if a firm is looking for a free-standing site,” Tesser added. “Prospective tenants also benefit from having strong ownership in place, as Seagis has nearly three million square feet of first-rate properties in New Jersey.”
In New Jersey, Jones Lang LaSalle is a leader in commercial real estate brokerage, project management and investment sales. Employing more than 600 of the region’s most respected industry experts, the firm offers Office and Industrial Brokerage, Tenant and Landlord Representation, Project and Development Services, Property Management, and Capital Markets services to its clients in New Jersey. The operations also serve as the local service provider for the firm’s global and national corporate clients that have a presence in New Jersey.
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About Jones Lang LaSalle
Jones Lang LaSalle (NYSE:JLL) is a professional services and investment management firm offering specialized real estate services to clients seeking increased value by owning, occupying and investing in real estate. With annual revenue of $3.9 billion, Jones Lang LaSalle operates in 70 countries from more than 1,000 locations worldwide. On behalf of its clients, the firm provides management and real estate outsourcing services to a property portfolio of 2.6 billion square feet. Its investment management business, LaSalle Investment Management, has $47.0 billion of real estate assets under management. For further information, visit http://www.jll.com.