Edison, New Jersey
February 10, 2016
HELLER MAINTAINS FULL OCCUPANCY IN 15.3 MILLION SQUARE FOOT PORTFOLIO.
Heller Industrial Parks, one of the nation’s largest privately-held distribution center developers, announced today that it completed 49 transactions involving over 5.8 million square feet in 2015. “This was our most active year on record. The market demand across our entire portfolio was strong,” stated Brian Banaszynski, President of Heller. “Favorable market conditions led Heller to speculatively develop a new 285,000 square foot 40’ clear warehouse at Exit 8A, which was entirely leased by All-Ways well ahead of completion. In addition to new leases, Heller’s quality buildings at very competitive rents drove a record level of renewals and extensions, as tenants sought to secure space for the long-term.”
Heller’s in-house leasing team of David Paster, Allan Ramsay and Fred Kurtz worked closely with the following brokers in 2015:
• Colliers International: Jon Tesser, Mike Markey & Doug Biggs
• JLL: David Knee, Dean Brody & Chad Hillyer
• C&W: Chuck Fern, Jason Barton, Frank Truesdale, Stan Danzig, Jules Nissim, Dan Baddenhausen & Marc Petrella
• CBRE: Pat Lafferty, John Cooper & Steve Beyda
• Newmark Grubb Knight Frank: Mitch Katz
• Resource Realty: Tom Nuara
• Lee & Associates: Rick Marchisio & Reid Bassinger
• Logistical Properties: Lonnie Pannucci
• Nationwide Industrial Real Estate: Perry Ruda
• Team Resources: Greg Sholom
• Blau & Berg: Dave Thomas
• Zimmel Associates: David Zimmel
• Bussel Realty: Leo Esses
• Rubin Realty: Ken Rubin
• Fisher & Company: Andrew Henry
• AJR Commercial: Art Reinitz
• NAI Mertz: Scott Mertz
• NAI Robert Lynn: John Lancaster
• Jackson Cooksey: Rob Luttrell
Highlights of this year’s transactions include:
Largest and Highest Value New Deal: All Ways leased Heller’s under-construction 285,000 SF building in South Brunswick, NJ. Largest Renewal: Distribution Management Group extended their lease of 409,000 SF in Edison, NJ.
“The overall New Jersey vacancy rate continued to decrease throughout the year to the lowest level in 12 years. This limited supply of inventory helped drive market rates even higher last year.” continued Banaszynski. “We feel this trend will continue well into 2016, if not longer. In order to continue to meet market demand and in light of limited supply, Heller continues to work on designs and approvals for the next buildings at our 2.6 million square foot project in South Brunswick (www.hellerparknorth.com), which is within the highly-desirable Exit 8A submarket.”
About Heller Industrial Parks:
I. Heller Construction was founded by Isaac “Ike” Heller in 1966, who later founded Heller Industrial Parks. Based in Edison, NJ it is a full-service privately-held firm that develops, owns, leases and manages its own portfolio of over 15 million square feet of modern distribution and logistics buildings nationwide. Heller’s sites are strategically located with superior truck, rail and port access. For more information, please see www.hellerpark.com
