Heller Industrial Parks completes over 4.6 million s/f of leases in 2014
Heller Industrial Parks announced that it completed 43 transactions involving over 4.6 million s/f in 2014. “It was a very active year for Heller. The market demand across our entire portfolio is strong,” said Brian Banaszynski, president of Heller. “In several instances, we were able to secure lease extensions and expansions well in advance of scheduled expirations. Tenants are also seeking to enter into longer term lease commitments, as the supply of well-located and well-maintained buildings such as Heller’s are becoming more limited in their availability.”
Heller’s in-house leasing team of David Paster, Allan Ramsay and Fred Kurtz worked closely with the following brokers in 2014:
•Steve Bussel, Manny Judah and Herb Zimmerman of Bussel Realty
•Mike Nicholson of The Acclaim Group
•Chuck Fern, Larry Casey and Robin Ritter-Ceriello of DTZ
•Steve Beyda and Andy Parella of CBRE
•Frank Caccavo and Jason Goldman of Cushman & Wakefield
•Rich Galuppo of NAI DiLeo Bram
•Jim Scancarella and Doug Bock of CRESA
•Joel Lubin and Todd Burnette of JLL
•Rick Marchisio of Lee & Associates
•Tom Nuara of Resource Realty
•Tony Baseil of Weichert Commercial
•Matt McWilliams, Southern Asset Service Corp.
Highlights of these transactions include:
• Alba Wine & Spirits new lease for 303,183 s/f in Edison, New Jersey. Larry Casey and Robin Ritter - Ceriello of Cassidy Turley represented Alba while David Paster represented Heller.
• Selective Transportation expanded and extended their lease for a total of 225,395 s/f in Edison, New Jersey. Joel Lubin of JLL represented Selective while Allan Ramsay represented Heller.
• Exel Logistics renewed their lease for 219,698 s/f and Frontier Logistics renewed their lease for 200,000 s/f in La Porte, Texas. Fred Kurtz represented Heller in both transactions.
“Besides these larger leases, there were also a number of transactions ranging from 20,000 to 100,000 s/f. Heller designs its buildings in order to accommodate all size requirements,” said Banaszynski. “While we were busy in 2014 with the existing building portfolio, Heller continued to work on designs and approvals for our 2.6 million s/f project in South Brunswick (www.hellerparknorth.com), which is within the highly-desirable Exit 8A submarket.”