{"id":1004198445,"date":"2017-11-27T04:51:07","date_gmt":"2017-11-27T12:51:07","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004198445"},"modified":"2022-12-08T17:45:02","modified_gmt":"2022-12-09T01:45:02","slug":"lg-electronics-signs-410-ksf-nj-industrial-lease","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/lg-electronics-signs-410-ksf-nj-industrial-lease\/","title":{"rendered":"LG Signs 410 KSF New Jersey Industrial Lease"},"content":{"rendered":"<p><em>By Keith Loria<\/em><\/p>\n<p><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/11\/industrial-news-01b.png\" target=\"_blank\" rel=\"noopener noreferrer\"><img loading=\"lazy\" decoding=\"async\" data-attachment-id=\"1004198448\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/lg-electronics-signs-410-ksf-nj-industrial-lease\/industrial-news-01b\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/11\/industrial-news-01b.png\" data-orig-size=\"800,620\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/11\/industrial-news-01b.png?w=800\" class=\"alignright wp-image-1004198448 \" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/11\/industrial-news-01b.png\" alt=\"\" width=\"360\" height=\"279\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/11\/industrial-news-01b.png 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/11\/industrial-news-01b.png?resize=300,233 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/11\/industrial-news-01b.png?resize=768,595 768w\" sizes=\"auto, (max-width: 360px) 100vw, 360px\" \/><\/a>Deutsche Asset Management has secured a full-building, 410,000-square-foot lease with LG Electronics at 159 Milford Road, a Class A distribution facility in East Windsor, N.J., developed by Trammell Crow Co.<\/p>\n<p><em>\u201cLG Electronics\u2019 decision to occupy the entire building marks an important milestone in our investment strategy for the development of 159 Milford Road<\/em>,\u201d Todd Henderson, Deutsche Asset Management\u2019s head of real estate, said in a prepared release.<em> \u201cBringing this high-caliber credit tenant to this project is a significant win not only for our investors, but also for the Township of East Windsor. This achievement would not be possible without the support of the Township and our development manager Trammell Crow Company.\u201d<\/em><\/p>\n<p>The building is situated on approximately 28 acres and boasts a number of sought-after industrial features, such as a 40-foot clear height; 62 manually-operated rear dock doors and two drive-in doors; a 130-foot deep truck court; 355 car spaces; and 74 trailer spaces. The property also offers robust power and LED lighting capabilities, as well as an ESFR fire protection system.<\/p>\n<p><em>\u201cWe welcome LG Electronics to the project and are thrilled they have selected 159 Milford Road for their expanded operations in New Jersey,\u201d <\/em>said\u00a0Andrew Mele, Trammell Crow managing director of the Northeast metro business unit. <em>\u201cWe are extremely pleased to have delivered a world-class industrial project on behalf of Deutsche Asset Management in one of the most important distribution corridors in the U.S.\u201d<\/em><\/p>\n<p>The team of Mindy Lissner, William Waxman, Steven Beyda, Dan McGovern, Robert Pine, Kevin Dudley and David Gheriani from CBRE represented the owner in the transaction. LG Electronics was represented by the JLL brokerage team of Melissa Holland and Brian Golden.<\/p>\n<h2><strong>A Rising Industrial Area<\/strong><\/h2>\n<p>NAI Hanson recently reported that the northern and central\u00a0New Jersey industrial market\u00a0saw more than 5.6 million square feet leased last quarter, an increase of more than 750,000 square feet from the prior quarter. Region-wide, high demand and limited new supply pushed the overall vacancy rate down to 4.5 percent. That\u2019s led to a lot of activity in the space. For example, this summer, the Hampshire Cos., sold a\u00a0<a href=\"https:\/\/www.commercialsearch.com\/news\/nj-industrial-portfolio-changes-hands-in-147m-deal\/\">six-building industrial portfolio<\/a>\u00a0totaling 1.2 million square feet in northern New Jersey for $146.9 million.<\/p>\n<p>CBRE research shows demand in the state\u2019s industrial sector, especially in the Turnpike corridor where demand is outpacing supply. The deal represented a rare opportunity to occupy a brand-new logistics center located immediately off of the Turnpike.<\/p>\n<p>The distribution center sits directly off of Exit 8 of the New Jersey Turnpike, where the Turnpike Authority completed a new interchange as part of its roadway widening and improvement project. 159 Milford Road also benefits from the new thoroughfare, created to ease vehicle access from the Turnpike to Route 133.<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The building is situated on approximately 28 acres and boasts a number of sought-after industrial features. CBRE represented the owner in the transaction and LG Electronics was represented by JLL.<\/p>\n","protected":false},"author":451,"featured_media":1004198448,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21784,21743,21808,21748,1600,21742,10],"tags":[35019,33899,32893],"class_list":["post-1004198445","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-brokerage","category-deals","category-featured","category-industrial","category-new-york","category-latest","category-northeast","tag-deutsche-asset-management","tag-lg-electronics","tag-trammell-crow-company"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>LG Signs 410 KSF New Jersey Industrial Lease - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/lg-electronics-signs-410-ksf-nj-industrial-lease\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"LG Signs 410 KSF New Jersey Industrial Lease\" \/>\n<meta property=\"og:description\" content=\"The building is situated on approximately 28 acres and boasts a number of sought-after industrial features. 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