Lee & Associates New Jersey negotiated a 611,000-square-foot, full-building industrial lease with GXO Logistics at 301-321 Herrod Blvd. in South Brunswick, according to a Monday announcement from the brokerage.
The long-term transaction enables the contract logistics firm to expand its Middlesex County operations.
Lee & Associates’ Dave Saltzman served as tenant representative. As a preferred vendor for GXO Logistics, one of the world’s largest contract logistics companies, Saltzman has negotiated over 2.5 million square feet of space nationwide on the company’s behalf since the beginning of 2022. Marc Petrella of KBC Advisors, Woodbridge, represented the landlord, Link Properties.
“GXO was looking to grow its footprint in the immediate area due to the expansion needs of its client base,” Saltzman stated. “We conducted an extensive search to locate a site within a set radius from GXO’s existing facility in the New Jersey Turnpike Exit 8A market — focusing on South Brunswick, Cranbury and Monroe Township. Ultimately, this property’s location, and the building’s features and size, created an ideal scenario that not only enabled GXO to meet its additional space needs, but also retain its existing labor force.”
Situated on nearly 40 acres, the asset provides a Class A corporate image setting. Prior to GXO occupying the building, Link Properties will undertake a complete rehabilitation of the property, including renovating the office space, providing new LED lighting throughout the building and adding new dock doors. The company will reseal and stripe all warehouse floors and outside paved areas, including the parking lots and truck courts.
Saltzman noted that New Jersey’s Exit 8A market continues to be one of the state’s most sought-after destinations for industrial space users. The region offers a central location with access to the New Jersey Turnpike, Route 130 and Route 1; it is nearly equidistant to both New York City and Philadelphia.