LIXIL Inks 2 New Jersey Leases
The tenant renewed its 53,226-square-foot flex/industrial lease in Piscataway while signing a new, 60,270-square-foot office lease less than 1 mile away.
30 Knightsbride Road. Image via Google Street View
LIXIL Corp. has signed two leases totaling 113,496 square feet in Piscataway, N.J. The transaction included a new office lease of 60,270 square feet at 30 Knightsbridge Road and a 53,226-square-foot renewal at 865 Centennial Ave. JLL represented the water and housing product manufacturer in both transactions.
Owner Keystone Property Group signed the long-term, full-floor lease at 30 Knightsbridge Road. LIXIL will occupy the second story of the recently renovated office center. The four-building property comprises nearly 695,000 square feet and dates back to the 1970s, CommercialEdge data shows.
Situated half a mile northwest of 30 Knightsbridge, 865 Centennial Ave. is a 53,226-square-foot flex facility located alongside Interstate 287. Landlord Onyx Equities acquired the property in 1995. LIXIL is the sole tenant of the single-story building, which includes 24-foot ceiling heights and a mix of office, research and showroom space.
Managing Director Scott Lesh and Senior Vice Presidents Scott Stange and Brian Davison made up the JLL team. CBRE’s Senior Vice President Jon Meisel represented Keystone, while Onyx was represented in-house by Principal Jonathan Schultz and Senior Vice President Jonathan Davis.
The New Jersey industrial market has remained active throughout the year, propelled by the growth in e-commerce. In October, a joint venture commenced construction of Piscataway Logistics Center, a two-building development 2 miles northeast of the LIXIL locations. The project includes the renovation of an existing 146,000-square-foot building and the construction of a Class A facility.
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