Global real estate advisory firm Avison Young announced a new, 111,374-square-foot industrial lease at Lawrence Logistics Center, located at 40 Enterprise Avenue in Lawrence Township.
Avison Young’s JC Giordano, Timothy Cadigan, Matthew Turse and Stephen Gianis represented both the landlord, Lawrence Logistics Urban Renewal LLC, and the tenant, iApparel Brands, LLC, in the transaction.
With this lease, Lawrence Logistics Center — a 261,646-square-foot, state-of-the-art industrial facility — reaches 100% occupancy. The other tenant in the building is CEVA Logistics. The property spans over 16 acres and features 40-foot clear heights, 40 dock doors, 141 car parking spaces and 33 trailer parking stalls, offering modern functionality for today’s logistics and distribution users.
Alcamo Capital LLC, the generational owner of the site, engaged Avison Young four years ago to lead the transformation of the functionally obsolete property into a premier industrial asset. The successful lease-up validates the community’s investment, which included support for zoning changes, infrastructure upgrades and participation in long-term tax incentive programs, demonstrating a shared commitment to economic revitalization.
The project also fulfills the objectives of the 30-year PILOT program, which encourages private investment in underutilized properties by offering predictable tax payments in place of traditional property taxes. This structure supports municipal revenue while incentivizing redevelopment.
“This transaction delivers needed expansion for the tenant and completes full lease-up of the asset — a win for the tenant, community and ownership,” said Giordano, principal at Avison Young.
“The Lawrence industrial submarket has been highly competitive, with several new deliveries and limited leasing activity,” said Cadigan, principal at Avison Young. “Fully leasing this building validates the redevelopment strategy and highlights the effectiveness of Avison Young’s marketing approach.”
