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Bussel Realty secures 80K-square-foot sublease in Edison
By Jessica Perry,
2024-07-09
Bussel Realty Corp. 's latest deals include securing an 80,000-square-foot sublease in Edison for Packaging Distribution Resources.
The industrial/ retail real estate services firm represented the tenant in the transaction a 1 Truman Drive, with BRC Vice President David Pastor and Senior Vice President David Blitt handling the transaction.
RE Perry represented the sublandlord, RXO Inc.
“It was a pleasure working with PDR as their real estate services partner in securing the optimal industrial space for its business expansion,” Paster commented. “I have enjoyed a relationship with PDR for more than 10 years and am glad to be of service and a part of their continued success.”
PDR provides high-quality, third party logistics (3PL) services, such as warehousing, pick and pack, assembly, fulfillment, labeling, packaging, freight forwarding, returns processing, shipping and transportation management.
Located near Interstate 287; Routes 27, 1 and 440; and Exit 10 of the New Jersey Turnpike, 1 Truman Drive is a 369,313-square-foot building located on nearly 30 acres. It offers 24-foot ceilings, 40 tailboards, a rail line, heavy power, wet sprinklers, and parking for 227 cars and 29 trailers.
Kearny IOS
80 Campus Drive in Kearny is a 2-acre industrial outdoor storage site. PROVIDED BY BUSSEL REALTY CORP.
In Kearny, BRC also announced securing 2 acres of industrial outdoor space (IOS) to start off the month.
According to the firm's July 1 announcement, BRC Senior Vice President Anthony Rittwager and Director of Asset Services of The AI Group Matthew Phillips represented Lico Transport, the tenant. CBRE represented landlord Hugo Neu Realty Management.
The new lease supports Lico Transportation's drayage and transport services with its proximity to Port Newark as well as ample storage space, BRC said.
"The closing of this transaction, especially in today's challenging and rapidly changing IOS market, highlights our ability to secure valuable deals for our clients; our expertise and dedication ensure that we consistently deliver results," Phillips said.
The AI Group which stands for "Advance Industrial" is a strategic team within Bussel Realty Corp. that leverages a proprietary platform to optimize the equity and position of both industrial real estate owners and occupiers.
Keasbey full-building lease
Major Tempered Glass LLC leased the entirety of the more than 53,000-square-foot building located at 300 Smith St. in Keasbey. PROVIDED BY BUSSEL REALTY CORP.
In June, BRC also announced securing a full-building lease for Major Tempered Glass LLC.
Located at 300 Smith St. in Keasbey, the property is 53,550 square feet.
Blitt, Paster and Vice Presidents Eli Harari represented the landlord, 300 Smith Street Associates, in the transaction. BRC's Metz Industrial Group comprising Senior Vice President Jordan Metz and Senior Associate Benito Abbate represented the tenant.
“We are pleased to have worked with the Metz Industrial Group and their client in locating the ideal industrial space for its business,” stated Blitt. “The property’s ample parking and proximity to major markets in Northern New Jersey and New York City, and the ports were key to servicing its clientele.”
“We are excited to bring Major Tempered Glass' manufacturing operation from New York to New Jersey, marking a significant step forward for NJ manufacturing! The location, functionality, and access to strong labor attracted the tenant to 300 Smith Street in a transaction which demonstrated close collaboration between both the brokers and the principals, that led to a successful outcome,” noted Abbate.
Located off 440, 300 Smith St. is minutes from the New Jersey Turnpike, Garden State Parkway and Route 1-9. Additionally, the Outerbridge Crossing to Staten Island, New York, Port Newark/Elizabeth and Newark Liberty International Airport are also nearby.
The property offers 2,500 square feet of office space, 22-foot ceilings, four tailboards, 1,600 amps of power in addition to parking for 35 cars and 15 trailers.
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