Leading Storage Provider Grows East Coast Presence with Full-Building Commitment
SOUTH BRUNSWICK, N.J., August 21, 2018 – Cushman & Wakefield has inked a 450,000-square-foot, full-building industrial lease for storage and moving services provider Clutter at 1065 Cranbury South River Road in South Brunswick. The newly constructed facility, launched as a speculative development by IDI Logistics, is nearing completion and will accommodate a late summer move-in.
Andrew Stypa and Daniel Badenhausen of the commercial real estate firm’s Iselin, NJ, office, represent Clutter – a Los Angeles-based startup. Over the past two years, they have represented Clutter with their leases in Northern and Southern California, and Seattle. Cushman & Wakefield’s Jason Goldman, Andrew Siemsen and Marc Petrella also based in Iselin, served as landlord representative for IDI Logistics in the long-term lease.
Founded in 2015, Clutter is a full-service storage company that packs, picks up, stores, and then brings back customers’ belongings on-demand. Clutter does Point A to Point B in-city moving too. The company currently operates in seven major cities, including Los Angeles, New York, San Francisco and Chicago.
“The storage industry generates a reported $38 billion in annual revenue, and within this sector, Clutter is carving a distinctive niche from a service perspective,” Stypa noted, adding the company quickly outgrew its first East Coast facility, leased two years ago in North Bergen, N.J.
Stypa added that the 1065 Cranbury South River Road will accommodate Clutter’s existing regional needs while allowing for additional in-place growth.
Doug Armbruster, Senior Vice President and Regional Director with IDI Logistics says, “We are excited about the Clutter story, and we’re thrilled to be part of their growth in the New York/New Jersey market. A full-building lease to Clutter prior to construction completion speaks to the quality of our product and the strength of the New York/New Jersey market.”
About Cushman & Wakefield
Cushman & Wakefield (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value by putting ideas into action for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with 48,000 employees in approximately 400 offices and 70 countries. In 2017, the firm had revenue of $6.9 billion across core services of property, facilities and project management, leasing, capital markets, valuation and other services. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.
About IDI Logistics
IDI Logistics is one of the world’s leading investors and developers of logistics warehouses and distribution parks with 30 million square feet of premier assets under management and additional prime land sites to develop another 20 million square feet of distribution facilities near major markets and transport routes throughout North America. IDI Logistics is a portfolio company of Brookfield Asset Management.
For more information, please visit our website at www.idilogistics.com.