JD.com is China’s largest direct online retailer, boasting more than 1,300 warehouses worldwide. And now included among that footprint is newly leased space coming to Middlesex County.
Duke Realty Corp.’s New Jersey office announced May 17 it pre-leased a 216,892-square-foot speculative development currently under construction in Piscataway to JD.com.
Boosting its appeal as a logistics outpost, the 21-acre site at 1570 S. Washington Ave. offers immediate access to Interstate 287 and is 6 miles from Interstate 95 and Exit 10.
Rendering for Duke Realty’s speculative industrial development at 1570 S. Washington Ave. in Piscataway. – M + H ARCHITECTS
“Demand for distribution space along the New Jersey Turnpike corridor remains excellent and the vacancy rate for industrial space in the 287 Corridor submarket continues to hover near all-time lows,” said Ben Rosen, vice president of development and leasing in New Jersey for Duke Realty.
Colliers reported in its First Quarter 2022 New Jersey Industrial research report that the Exit 10 submarket of the Class A Turnpike Corridor had an availability rate of 0.9%.
“This type of well-located and highly functional distribution facility is what Duke Realty is known for and it is no surprise that we were able to quickly secure a lease for this speculative development,” Rosen continued.
Duke Realty was represented by Rosen, Duke Realty New Jersey Development Associate Gregg Bazzani, and Colliers Internationals’ Noah Balanoff and Jacquelyn Severino. Kander Pacific Inc.’s Andy Ho and Cushman & Wakefield’s Chuck Fern, Jason Barton and Thomas Tucci represented JD.com in the lease negotiations.
Work began on the project back in February and is expected to be completed this fall.
According to Duke Realty, the forthcoming distribution facility, which is being built to LEED certification standards, will have 40-foot cleat height, 34 dock doors, 38 trailer spaces and parking for 125 cars.
“We have been working with Piscataway Township for some time to develop thoughtful, sustainable industrial facilities that generate tax revenue, remediate brownfield sites and create jobs,” Rosen said. “By working collaboratively, we have provided our tenants with strategically located modern warehouses and continued to be responsible corporate citizens of the communities we serve.”
