(Linden, NJ ‒ April 29, 2015) Within months of delivering two new, speculatively developed bulk warehouses in its Legacy Commerce Center development in Linden, New Jersey, Duke Realty, along with its listing broker CBRE, has signed leases for 75 percent of the available space. A warehouse operation has leased 282,400 square feet or 57 percent of the 495,084-square-foot bulk warehouse located at 801 West Linden Avenue. In the 144,000-square-foot warehouse located at 301 Pleasant Street, three companies have signed leases for 100 percent building occupancy. A beverage distributor will occupy 44,850 square feet of the building, while a furniture importer and distributor, will occupy 31,560 square feet. Leasing the remaining 67,590 square feet is a medical uniform and linen services company.
“The interest we’ve seen and the quick actions by our new tenants to secure their space is testament to the appeal of Legacy Commerce Center and these two, high-quality facilities,” said Jeff Palmquist, Senior Vice President of Duke Realty’s Northeast Region. “These buildings provide these four companies modern, first-generation space in a location that puts them in close proximity to the dynamic and populous New York City metro area and within a one-day’s drive of one-third of the U.S. population.”
“Duke Realty’s new properties in Legacy Commerce Center are among the newest in the area and have been designed with the clear heights, bay widths, dock doors and car and trailer parking that today’s users of warehouse space need and want for optimal efficiency,” said Mindy Lissner, Executive Vice President of CBRE. “These attributes, along with convenient access to major highways, the ports in northern New Jersey and rail, make Legacy Commerce Center a distribution company’s dream.”
Mindy Lissner, William Waxman and Steven Beyda with CBRE were the listing brokers for both of the buildings. Matt Bremner, Vice President, represented Duke Realty in all of the transactions.
Duke Realty delivered its warehouse at 801 West Linden Avenue in October 2014 and its warehouse at 301 Pleasant Street in April 2015. The two buildings are Duke Realty’s first developed properties in Legacy Commerce Center, the industrial portion of a 60-acre site on which a General Motors’ assembly plant formerly stood. One other industrial building development site remains in Legacy Commerce Center. This block of land can accommodate another 495,000-square-foot building. Adjacent to Legacy Commerce Center and fronting Route 1/9 is a prime parcel of land slated for 450,000 square feet of retail development.
Parties interested in leasing available space in 801 West Linden Avenue, build-to-suit industrial development or retail opportunities are invited to contact Duke Realty or its listing agent CBRE.
About Duke Realty
In addition to the nearly 640,000 square feet of industrial space that Duke Realty currently has under development in Legacy Commerce Center, the company owns and manages more than 1.3 million square feet of industrial properties in New Jersey. The company’s New Jersey office is located in Four Tower Bridge, 200 Barr Harbor Drive, Suite 400 in West Conshohocken, PA. The phone number is 610.941.2981.
On a nationwide basis, Duke Realty owns, maintains an interest in or has under development approximately 141 million rentable square feet of industrial and office assets, including medical office, in 22 major U.S. metropolitan areas. Duke Realty Corporation is publicly traded on the NYSE under the symbol DRE and is listed on the S&P MidCap 400 Index. More information about Duke Realty is available at www.dukerealty.com. Duke Realty also can be followed on Twitter, LinkedIn, Facebook and YouTube.