Duke Realty Corp. has secured a long-term lease with Vandale Industries Inc., a global apparel importer, for 207,021 square feet at its 773 Cranbury South River Road warehouse and distribution property in South Brunswick, N.J. With the Vandale lease, the 488,884-square-foot cross dock facility in the New Jersey Turnpike Corridor is fully leased.
Located within the Exit 8A submarket, the warehouse and distribution facility will offer Vandale convenient access to the New Jersey Turnpike and other major thoroughfares.
Vandale, a New York City-based importer of intimate apparel and foundations, including daywear, sleepwear, activewear and shapewear, also has offices in Hong Kong and China and supplier partnerships in seven countries. The company manages private label and national brands, including Vince Camuto, Izod, the Jessica Simpson Collection and Warner’s, in every distribution channel and is a key supplier to major retailers across the U.S.
Ben Rosen, vice president of leasing and development for Duke Realty in New Jersey, said in a prepared statement the 773 Cranbury South River Road asset is a modern facility located within central New Jersey’s premier industrial submarket that will enable Vandale to effectively serve its major U.S. retail clients.
Art Makris, senior vice president of Duke’s Northeast region, said in prepared remarks the logistics REIT does not see the demand for well-located, high-quality logistics space waning anytime soon because of the growth of the e-commerce industry. He said they work with local broker partners to share tenants’ needs and identify investment opportunities that meet those needs and further expand Duke Realty’s New Jersey footprint.
The REIT’s New Jersey portfolio totals nearly 8.2 million square feet across 21 properties and is 100 percent occupied. In February, Duke secured a long-term lease with Bob’s Discount Furniture for its 622,230-square-foot distribution facility under construction at 150 Old New Brunswick Road in Piscataway, N.J. The distribution center is slated for delivery this summer.
Vandale was represented by Chuck Fern and Jason Barton with Cushman & Wakefield. Duke was represented by Michael Kimmel, Jason Goldman, Marc Petrella and Andrew Siemsen, also with Cushman & Wakefield.
Duke has seen leasing activity at some of its Texas logistics properties in recent months. In April, Yokohama Tire Corp. signed a full-building lease for Intermodal III Industrial Park, a 431,630-square-foot facility in Wilmer, Texas. The tenant plans to move into the property this summer. In March, the company arranged a long-term lease with a global provider of wireless services at Lakeside Ranch 350, a speculative facility in Flower Mound, Texas, that is located about 15 miles from downtown Dallas and within close proximity to the Dallas/Fort Worth International Airport.