Zimmel Associates Reports New Jersey Industrial Leases Totaling 200,464 Sq. Ft.
Sweet Location for Candy Distributor; New Long Term Lease for Warehouse Company and Manufacturing Space for Architectural Millwork/Custom Cabinet Maker
Edison, New Jersey, October 24, 2016—Zimmel Associates, the Edison, N.J.-based corporate real estate brokerage firm, reports the completion of three Central New Jersey industrial lease transactions totaling 200,464 sq. ft.
In the first transaction, David Zimmel, president, Zimmel Associates, handled the lease of 70,000 sq. ft. at 195 Raritan Center Parkway, Edison, N.J., to Royal Enterprise Inc., a full service distributor of bulk candy, chocolates and novelty products based in Mount Laurel, N.J. Zimmel, exclusive broker for the 117,000 sq. ft. building, represented the building owner, Mobile Star LLC. Royal Enterprise Inc. was represented by Doug Bansbach and Linda Hill of Cushman and Wakefield, Edison, N.J. office.
“We had a lot of activity on the building from the time we were assigned the exclusive a few months ago,” says Zimmel. “The rent was competitive for a highly convenient Raritan Center location that offers quick access to the New Jersey Turnpike, the Garden State Parkway, Route 287 and more.
In the second transaction David Zimmel negotiated a seven-year lease for 106, 464 sq. ft. at 75 Carter Drive, Edison, N.J., for tenant Romeo and Layla Warehousing Inc., a storage and warehousing company headquartered in New York, N.Y. The landlord, Caro Associates, was represented by Lou Belfer of CBRE, East Brunswick.
“Romeo and Layla’s lease was coming up for renewal and they hired our firm to do a market assessment and negotiate a renewal on their behalf,” says Zimmel. “The New Jersey warehouse space market has tightened in recent years and rents have increased. They took a proactive approach to fully understand their options, improve their negotiating leverage, and get the best deal.”
In the third transaction Jordan Zimmel, vice president, Zimmel Associates, handled the long-term lease of a 24, 000 sq. ft. freestanding building at 27 Kearny St., Bridgewater, N.J., to Prestige Millwork LLC, manufacturers and installers of architectural woodwork and custom cabinetry. Zimmel represented both the tenant and landlord. The building is located in Bridgewater Business Park, a Zimmel Associates exclusive that consists of 450,000 sq. ft. of industrial space owned by Denholtz Associates.
About Zimmel Associates: Zimmel Associates is an Edison, NJ-based commercial real estate services firm that provides fully integrated brokerage, consulting, investment and property management services for local, regional and national clients. Established in 1986, Zimmel Associates represents more than five million sq. ft. of exclusive office, industrial and flex space throughout New Jersey. For more information, visit www.Zimmel.com.