CUSHMAN & WAKEFIELD ARRANGES 103,000-SQ.-FT. INDUSTRIAL LEASE
Auto Parts Maker and Distributor Bosal USA will expand and Relocate to Mount Olive, N.J.’s International Trade Center
MOUNT OLIVE, N.J. – September 19, 2011 – (RealEstateRama) — Commercial real estate services firm Cushman & Wakefield of New Jersey, Inc. has arranged a 103,000-square-foot, 10-year industrial lease on behalf of Bosal USA at 200 International Drive in Mount Olive’s International Trade Center. The tenant was represented by Stan Danzig, Jules Nissim, Steve Elman, Robert Adams, and Cathy Bounczek of the East Rutherford, N.J. office of Cushman & Wakefield. The landlord is Mount Olive Industrial Realty Company, LLC, an entity owned by institutional investors advised by J.P. Morgan Asset Management.
Bosal USA, based in Ypsilanti, Mich., is the North American operation of the Lummen, Belgium-based Bosal Group, a manufacturer and distributor of OE and aftermarket replacement auto equipment and parts, including high-performance exhaust systems, catalytic converters and related components. Bosal USA, scheduled to move to 200 International Drive in October, will utilize the location for warehouse/distribution purposes.
“The company is relocating from its current 70,000-square-foot location in Whippany, N.J.,” said Adams. “We explored a number of opportunities on behalf of Bosal USA, and logistically and operationally, with its direct access to I-80, 200 International Drive made the best sense for the company long-term. The company required a location that was consistent with its image and standards, which this building provides.
“This transaction is also important because it will retain jobs for New Jersey,” said Adams.
The 217,548-square-foot 200 International Drive is situated within the International Trade Center’s 300-acre New Jersey Foreign-Trade Zone (NJFTZ), which contains 2.2 million square feet of warehouse/distribution and light industrial space. The International Trade Center is a 684-acre development encompassing office, industrial, retail, and hotel properties.
###
About J.P. Morgan Asset Management – Global Real Assets
J.P. Morgan Asset Management – Global Real Assets has approximately $54.9 billion in assets under management and 392 professionals in the U.S., Europe and Asia, as of June 30, 2011. With a 40-plus-year history of successful investing, J.P. Morgan Asset Management – Global Real Assets’ broad capabilities provide many of the world’s most sophisticated investors with a global platform of real estate, infrastructure, maritime/transport and energy strategies driven by local investment talent with disciplined investment processes consistently implemented across asset types and regions.
Media Contact:
Evelyn Weiss Francisco: evelyn (at) caryl (dot) com, (201) 796-7788, www.twitter.com/carylcomm
