5 Boxal Dr. in S. Brunswick Coming Online Amid Historically Low Vacancies, High Demand
SOUTH BRUNSWICK, N.J., May 1, 2019 – Commercial real estate services firm Cushman & Wakefield has been appointed exclusive agent for a 69,000-square-foot industrial building coming online for sale or lease in South Brunswick. The offering at 5 Boxal Drive represents one of the only availabilities of its size in the red-hot Exit 8A submarket, where vacancies currently sit below 1%, according to Charles Fern.
Further, Fern notes that the 12.6-acre property includes excess land for future expansion. “The owner purchased this property for his own use and has since outgrown the building,” he explained. “We are bringing this offering to market at a time when there is virtually no product available for purchase or lease. We anticipate it will draw significant interest from investors, users and potential owners/occupiers.”
5 Boxal Drive is available in June. Suitable for a variety of uses, it features 32-foot clear ceilings, heavy power, 10 dock doors and one drive-in door, and LED lighting. The property is located just 32 miles from Port Newark/Elizabeth and 43 miles from New York City.
New Jersey industrial occupancy and demand remain at historically high levels, especially in core submarkets along the New Jersey Turnpike. During the first quarter of 2019, the Exit 8A submarket alone saw more than 2.5 million square feet of new leasing activity, according to Cushman & Wakefield Research Services.
Cushman & Wakefield’s top-producing industrial broker, Fern and his team specialize in industrial leasing and sales, from bulk distribution to e-commerce facilities, land sites, build-to-suits and redevelopment opportunities. During the past 12 months, the group has completed 8 million square feet in transactions with a total value exceeding $1.0 billion.
About Cushman & Wakefield
Cushman & Wakefield (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with approximately 51,000 employees in 400 offices and 70 countries. In 2018, the firm had revenue of $8.2 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.