Lee & Associates NJ Arranges Industrial Lease, Sale Transactions in Middlesex County
Lee & Associates New Jersey has arranged two industrial transactions in Middlesex County. In Piscataway, BlackRock Realty Advisors acquired 330 S. Randolphville Rd. for $80 million. In South Plainfield, a logistics firm signed a 189,000-square-foot, full-building lease at 602 New Market Ave.
Matthew Schnurr of Lee NJ’s capital markets team represented BlackRock. The nearly 300,000-square-foot S. Randolphville Road complex is fully occupied by General Plumbing Supply, Inc.
In South Plainfield, Drew Maffey and Rick Marchisio represented the logistics tenant in its full-building lease. Colliers represented the landlord, Bridge Development.
The move to 602 New Market Ave. was an expansion play for Maffey’s and Marchisio’s client. “The building’s features and ideal location were major draws,” Maffey noted. “The Western I-287 submarket allows for access to over a third of the U.S. population within a three-day drive.”