Colliers International has negotiated a 151,600-square-foot, full-building lease in Logan Township, N.J. Senior Managing Director Marc Isdaner assisted the owner, GFI Partners, while Scott Mertz, president of NAI Mertz, negotiated on behalf of logistics tenant Champion Services.
Located on 14 acres at 1 Warner Court, the single-story facility was completed in 1990. The owner plans to begin capital improvements at the property, replacing the roof, installing LED lighting, white boxing the warehouse interior and extending the parking lot. The tenant’s new lease allows it to relocate and consolidate its operations from several regional distribution centers.
The building, located in the 3,000-acre Pureland Industrial Complex, is less than 1 mile from Interstate 295 and 16 miles from Philadelphia International Airport. The industrial park is home to major tenants such as Amazon, Lockheed Martin and Home Depot.
Earlier in July, an Advance Realty Investors-led joint venture landed more than $100 million in construction financing for the first phase of a 10-building, 3.2 million-square-foot industrial development less than 2 miles from Pureland. The park’s first two structures are fully leased to Target and Lineage Logistics.