CBRE completed two long-term leases in Somerset‘s Route 287/Exit 10 Submarket.

The move follows CBRE Investment Management’s acquisition of Cottontail Logistics Center. The commercial real estate services and investment firm announced the milestone for the two-building complex July 7.

The next day, CBRE revealed an 85,100-square-foot renewal in Parsippany.

Totaling 236,000 square feet, Cottontail Logistics Center features 36-foot clear heights, a 200-foot shared truck court, 65 loading positions, 98 car parking spaces and LEED certification. Completed in 2024, the Class A site offers nearby access to Interstates 287 and 78. The central location also offers convenience to New York City, Newark airport and the Port of New York/New Jersey.

200 Cottontail Lane, Somerset – 116,520-square-foot lease

Tenant: Scentbird, a monthly subscription service that gives customers access to over 700 fragrances

202 Cottontail Lane, Somerset – 119,325-square-foot commitment

Tenant: Calibre Scientific, developer, manufacturer and distributor of consumable products, serving the life sciences and diagnostics sectors

Team:

• Kevin Dudley, Chad Hillyer and Kate Granahan lead the leasing campaign at the complex and represented ownership in the negotiations
• Nicholas Klacik with CBRE represented Scentbird; JLL’s Gary Politi and Micheal Viera represented Calibre Scientific

“We are delighted to announce these two long-term commitments at Cottontail Logistics Center, a state-of-the-art logistics complex strategically located in the heart of Northern New Jersey,” Dudley said. “With these two new leases Cottontail Logistics Center is 100% occupied.”

150 Lackawanna Ave.

In Parsippany, CBRE announced an 85,100-square-foot lease renewal for Wieland Metal Services. Built in 1974, 150 Lackawanna Ave. is 30 minutes from Newark Liberty International Airport and the Port of Elizabeth.

The global, value-added metal service center and distribution network will continue to house operations at the FAO Realty LLC-owned building, CBRE said.

Team:

• The CBRE team of Thomas Mallaney and Denise Kokulak, in conjunction with the CBRE suburban Chicago office, negotiated the lease renewal on behalf of Wieland
• Scott Perkins of NAI James E. Hanson represented  FAO Realty.

“We worked closely with our colleagues from CBRE’s suburban Chicago office and reviewed several space options in the market that would fit our client’s specific requirements,” said Mallaney. “After a targeted analysis Wieland elected to remain at 150 Lackawanna for a long-term leasehold and improve the existing space to better facilitate their occupancy.”