JERSEY CITY, New Jersey — February 18, 2021 — The New Jersey office of Duke Realty Corporation (NYSE: DRE), the leading domestic only, pure-play logistics property REIT (Real Estate Investment Trust) in the United States, announces it has secured a long-term lease agreement with Bob’s Discount Furniture for its 622,230-square-foot distribution facility currently under construction at 150 Old New Brunswick Road in Piscataway.
“We are thrilled that this premiere development project will meet the distribution needs of Bob’s Discount Furniture,” said Ben Rosen, vice president of leasing and development for Duke Realty in New Jersey. “This lease transaction is another example of why Duke Realty continues to invest in developing state-of-the-art industrial distribution facilities in strategic, high-demand locations along the New Jersey Turnpike corridor.”
Once complete in summer 2021, 150 Old New Brunswick Road will provide the national furniture retailer with a LEED® certified industrial facility featuring 40’ clear height, 125 dock doors, 302 parking spaces and 127 trailer spaces.
“At Duke Realty, we remain laser-focused on a growth strategy that includes the acquisition of infill properties and land for redevelopment in New Jersey and markets across the country,” said Art Makris, senior vice president of Duke Realty’s Northeast region. “We have successfully completed redevelopments by working closely with local government officials. In this case, Piscataway Mayor Brian Wahler and township staff were instrumental in helping us move forward with a smart approach to the redevelopment of a site that had remained vacant for more than 30 years.”
“Our continued new store growth at Bob’s Discount Furniture necessitates the expansion of our distribution network,” said Chris Day, senior vice president of real estate at Bob’s Discount Furniture. “Our business requires a DC network which allows us to efficiently deliver merchandise to our customers. This Duke Realty facility will provide us with a well located, ultra-modern, warehouse space allowing us to better serve our customers in this region of the country.”
Bob’s Discount Furniture was represented by Scott Belfer with CBRE. Duke Realty was represented by Chuck Fern, Thomas D. Tucci, Frank Truesdell, Jason Barton and Stephen Shoemaker with Cushman & Wakefield and Duke Realty’s own Cait English and Ben Rosen.
Duke Realty’s New Jersey portfolio totals nearly 8.2 million square feet across 21 properties and remains 100 percent occupied.
About Duke Realty
On a nationwide basis, Duke Realty owns, maintains an interest in or has under development approximately 159 million rentable square feet of industrial assets in 20 major U.S. logistics markets. Duke Realty Corporation is publicly traded on the NYSE under the symbol DRE and is a component of the S&P 500. More information about Duke Realty is available at www.dukerealty.com. Duke Realty also can be followed on Twitter, LinkedIn, Facebook and YouTube.
About Bob’s Discount Furniture
Founded in 1991, Bob’s Discount Furniture is one of the fastest growing furniture retailers in the country. Keeping true to its founding principle that everyone deserves quality furniture, Bob’s provides unsurpassed value with honesty and integrity. Through all the work that happens behind the scenes, Bob’s engineers this value, offering its discount on a wide variety of stylish, quality furnishings, mattresses, and home accents.
With 140 furniture stores across 22 states, the Manchester, Connecticut-based company has become the 10th-largest U.S. furniture chain and proudly holds an A+ rating from the Better Business Bureau. In 2020 MyBobs was named a “Top Online Shop” by Newsweek, and for the second year in a row has been recognized as a leader in sustainability by both the Sustainable Furnishings Council (SFC) and the National Wildlife Federation (NWF).