Industrial Realty Group, based in Los Angeles, has selected CBRE as the exclusive leasing agent for the Midpoint Logistics Center in Hillsborough, New Jersey. The 700,000 square foot Class A industrial property is located at 152 U.S. Route 206. The new distribution facility can be divided to accommodate multiple users, with the first phase of the redevelopment slated to be ready for occupancy in the fourth quarter of 2017. The site offers an ideal location, midway between New York City and the Lehigh Valley, 20 acres of outside storage space and rail service, as well as its proximity to the Port Newark-Elizabeth Marine Terminal and Newark Liberty International Airport.
“In the 35 years that I have been in this business, I have never seen the combination of Class A warehouse space coupled with 20 acres of outside storage and rail, which this property offers,” said Ben Shapiro, CBRE. “We are thrilled to be working with IRG to bring this project to market. Beyond the quality features of the property itself, Midpoint Logistics Center will offer its user a location that is equidistant to Port Newark-Elizabeth and will be significantly less expensive to operate than any Class A warehouse buildings located along the New Jersey Turnpike and Route 287 corridors.”
