Listen to this article

In its first instance of turning to someone else for the work, Heller Industrial Parks Inc. tapped JLL as exclusive leasing agent for a new distribution center in Middlesex County.

JLL‘s Northeast Industrial Region team announced Jan. 8 it was retained for the milestone assignment at 30 Sigle Lane in Dayton.

According to the global commercial real estate and investment management company, the recently completed, 674,209-square-foot building is the only industrial property of its size immediately available in the well-connected Exit 8A submarket. With access to highways, ports, rail and airports, the area offers access to more than 24 million people across New Jersey, New York, Connecticut and Pennsylvania.

The exclusive JLL leasing team is led by Vice Chairmen Rob Kossar, Leslie Lanne and Joel Lubin; Senior Managing Director Gary Politi and Vice President Charlotte Belling.

“With a great dearth of space forecasted over the next 12 months, we anticipate a great deal of interest from e-commerce, food and beverage and other distribution companies focused on strong distribution channels that support continued growth,” Lubin commented. “The Northeast’s dense population and strong existing labor force make 30 Sigle Lane an extraordinary proposition in a highly competitive market.”

In its third quarter industrial report for 2023, JLL said just 1.8 million square feet of new product was delivered for the period due to a drop in construction starts resulting from rising interest rates and a challenging entitlement landscape.

At the same time, tenants are seeking 17 million square feet of industrial sector space across New Jersey, according to the firm.

A unique opportunity

In a statement, Kossar said the JLL team looked forward to reintroducing 30 Sigle Lane to the market.

“We are thrilled to bring our experience in the industrial market to this first-of-its-kind partnership with Heller Industrial Parks, a forward-thinking developer with deep industrial experience,” he said. “As we are witnessing construction slowing down in this key corridor, 30 Sigle Lane is a uniquely desirable asset given the construction landscape – and a pivotal opportunity for occupiers eager to lock in well-located, modern industrial space to service increasing consumer demand in this region.”

Heller Industrial Parks President Jason Grebin said working with JLL was “an exciting next step” for the company’s legacy — describing the collaboration as “a dynamic combination of development expertise, market intelligence, and best-in-class consulting.”

“Our work together will enable strategic real estate decision making to support tenants with end-to-end logistics solutions and gaining advantage in the New Jersey industrial market,” Grebin said in a statement.

With 17 million square feet of warehouse and distribution centers across New Jersey, Pennsylvania, Texas and Kentucky, Edison-based Heller Industrial Parks has been a developer, owner and operator of its own buildings for more than 50 years. The company says it boasts a year-over-year near-zero percent vacancy rate across its portfolio. Customers include local and national players, such as Domino’s, FedEx, NFI, UPS and others.

Launched in 2017, JLL’s Northeast Industrial Region combined brokerage operations in Connecticut, New Jersey, New York and Pennsylvania into a single region to better serve clients that view the sector across those states as one interconnected market. One of the largest industrial markets in the U.S., JLL’s Northeast Industrial Market comprises approximately 1.76 billion square feet of space.