Cushman & Wakefield said Wednesday that the real estate services firm has been retained on an exclusive basis to market Crossroads Commerce Center in North Brunswick for lease.
Located at 1980 U.S. Route 1, Crossroads Commerce Center is a 191,481-square-foot industrial development that is expected to be delivered in the second quarter of 2023. The center is situated on 17 acres of land; upon completion, the property will feature built-to-suit office space, 40-foot clear height, 29 tailboard doors, two drive-in doors and 31 trailer parking spots.
Cushman & Wakefield’s Mindy Lissner, Bill Waxman, Christine Eberle, David Gheriani and Chris Griffith will be marketing the property for lease on behalf of the landlord, Principal Real Estate Investors.
“We are thrilled to be selected by Principal Real Estate Investors to lease this new state-of-the-art asset, ideally located in the heart of New Jersey’s distribution corridor,” Lissner stated. “In a market with vacancy rates below 2%, Crossroads Commerce Center provides high-quality industrial space ideal for warehousing and fulfillment.”
“Crossroads Commerce Center represents a unique redevelopment opportunity in a strong infill market,” Rob Klinkner, managing director at Principal Real Estate Investors, stated. “The center’s location is superb, offering direct access to the New Jersey Turnpike and to Port Elizabeth, one of the nation’s leading marine transport terminals. As the industrial market in New Jersey is poised to capture continued tenant growth, we expect to see significant demand for the well-located, state-of-the-art product like Crossroads Commerce Center.”
Located on U.S. Route 1, the property is easily accessible to the Newark Liberty International Airport, New Jersey Turnpike and Port of Newark.