Cushman & Wakefield said this week that its New Jersey industrial leasing and sales team has closed more than 4 million square feet of leases and sales since the start of the year.
The team, led by Chuck Fern, has closed 25 industrial transactions on behalf of owners, buyers and tenants, the firm said in a news release. That includes 21 leases and four sales, with a focus in New Jersey but some transactions occurring out-of-state.
“New Jersey’s industrial market has remained strong throughout the pandemic, with the state experiencing historically low vacancy rates and record-high asking rents as robust demand for Class A space continues to outweigh supply,” Fern said in a prepared statement. “During a time of such uncertainty about the future, my team has shown an unparalleled commitment to clients, and I’m thrilled to continue our longstanding relationships with some of the state’s most prestigious industrial landlords and tenants.”
Highlights include bringing the 699,600-square-foot 2020 Logistics Center @ Edison to 100% occupancy, as well as a 338,954-square-foot lease for National Distribution Centers LLC at Midpoint Logistics Center in Hillsborough and a 622,000-square-foot lease to Bob’s Discount Furniture at 150 Old New Brunswick Road, Piscataway.