CBRE, representing CBRE national partners, said Wednesday it has arranged the disposition of Cottontail Logistics Center at 200 and 202 Cottontail Lane in Somerset.
The CBRE team of Brian Fiumara and Elli Klapper represented CBRE National Partners in the deal.
Cottontail Logistics Center is a Class A, 236,000-square-foot, two-building logistics park that is 100% leased. The complex was completed in mid-2024 and features specifications such as 36-foot clear ceiling heights, a 200-foot shared truck court, 65 loading docks, 98 car parking spaces, and LEED Silver certification.
Christopher Sullivan, director, Logistics Deployment at CBRE Investment Management, said. “This acquisition aligns with our strategy of investing in modern logistics assets in key gateway markets. The buildings are divisible for multiple tenants and can accommodate the most active tenant size segment.”
CBRE touts the facility’s central location that provides access to New York City, Newark International Airport, and the Port of New York/New Jersey, one of the busiest port complexes in North America.
“Cottontail Logistics Center is an exceptional asset and a great addition to any portfolio,” said Fiumara. “Its strategic location in the heart of northern New Jersey’s Route 287/Exit 10 submarket offers a substantial labor and consumer base of over 26 million people within a two-hour drive, making it highly attractive for logistics needs.”
Cushman & Wakefield reported that the overall vacancy rate for the Somerset/I-78 corridor industrial submarket was 5.1% in the first quarter of this year, the fifth-lowest of the northern and central submarkets followed by the commercial real estate services firm.
