HELLER INDUSTRIAL PARKS COMPLETES 3.7 MILLION SF OF LEASES IN 2019 Edison, New Jersey
February 24, 2020
FULL OCCUPANCY AND RECORD RENTAL RATES IN 15 MILLION SQUARE FOOT PORTFOLIO
Heller Industrial Parks, one of the nation’s largest privately-held distribution center owner/managers, announced today that it completed 32 transactions involving 3.7 million square feet in 2019. “2019 was a banner year in terms of both tenant retention and rental ... Complete ArticleEdison, New Jersey
February 24, 2020
FULL OCCUPANCY AND RECORD RENTAL RATES IN 15 MILLION SQUARE FOOT PORTFOLIO
Heller Industrial Parks, one of the nation’s largest privately-held distribution center owner/managers, announced today that it completed 32 transactions involving 3.7 million square feet in 2019. “2019 was a banner year in terms of both tenant retention and rental increases. Online sales fulfillment, high demand and low inventory continued to drive rentals in 2019 to levels we’ve never seen before,” according to Frederick Kurtz, VP of Leasing/Marketing at Heller Industrial Parks.
“And these rents have allowed us to heavily reinvest in our properties, keeping them competitive and highly functional even against newly built distribution centers.”
Thanks go to the following brokers who worked with Heller’s in-house leasing team of David Paster and Fred Kurtz to keep the portfolio at 100% occupancy in 2019:
• JLL: Joel Lubin, Todd Burnette
• C&W: Jason Barton, Chuck Fern, Jules Nissin
• CBRE: Dorothy Chuang, Lou Belfer, Pat Lafferty
• NAI DiLeo Bram: Chris Galliano
• Lee & Associates: Rick Marchisio, Christa Governara
• Weichert Commercial: Tony Baseil
• Newmark Knight Frank: Kyle Eaton
• Cresa Partners: Jim Scancarella
• United Realty Advisors: Mark Tannen
• Team Resources: Greg Shalom
• Commercial Realty Partners: Mark Szollar, Chris Razzuoli
• Bussel Realty: Jordan Metz
• Fisher & Company: Ted Uzelac
• AJR Commercial: Art Reinitz
Highlights of this year’s transactions include:
Highest Value Deal: Halls Warehouse, Edison NJ
Largest Renewal/Expansion: Woodstream, Mechanicsburg, PA as represented by Pat Lafferty, CBRE
“Higher rental rates continue to force lower-margin distribution business south and west, with regional carriers having a rent advantage via greater location flexibility. It’s the family-owned and generally smaller warehouse clients who need to be near the port and the North Jersey / NYC markets that are having the most difficulty finding an affordable home. As far as one can tell, the shift in market dynamics is permanent,” concluded Kurtz.
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 and port access. For more information, please see www.hellerpark.com
Minimize HELLER INDUSTRIAL PARKS COMPLETES OVER 5.8 MILLION SF OF LEASES IN 2015 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... Complete ArticleEdison, 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
Minimize HELLER INDUSTRIAL PARKS SIGNS LEASE FOR ENTIRE SPECULATIVE BUILDING Edison, New Jersey
December 23, 2015
NEW 285,000 SF BUILDING AT EXIT 8A IS FULLY-LEASED WHILE STILL UNDER CONSTRUCTION
There’s more to celebrate this year than just the holidays at Edison, NJ based Heller Industrial Parks. One of the largest privately distribution center developers in the country, Heller announced today that it is has signed a long-term lease with All-Ways for thi... Complete ArticleEdison, New Jersey
December 23, 2015
NEW 285,000 SF BUILDING AT EXIT 8A IS FULLY-LEASED WHILE STILL UNDER CONSTRUCTION
There’s more to celebrate this year than just the holidays at Edison, NJ based Heller Industrial Parks. One of the largest privately distribution center developers in the country, Heller announced today that it is has signed a long-term lease with All-Ways for this latest best-in-class building at Heller Park North in South Brunswick, NJ. This new distribution center is the first “from the ground up” speculative 40’ storage height warehouse to be leased in the 8A submarket. The construction just recently commenced in September 2015, so the building has a new tenant months before completion.
All-Ways is a new tenant to Heller’s portfolio as well as this submarket. However, they are not a new company by any means. For over 30 years, the logistics company has been servicing all aspects of the supply chain, offering a complete end-to-end solution to its clients. It is one of the fastest growing 3PLs with over 1 million square feet of existing operations in the Los Angeles market.
John Tesser and Mike Markey from Colliers International along with Casey Mungo of DAUM Commercial Real Estate Services represented All-Ways, and David Paster represented Heller Industrial Parks on the lease transaction. The tenant conducted an extensive search for months to select a new facility, and was willing to wait for this building’s completion instead of committing to an existing building.
“Our comprehensive market research indicated this was the right size building to start on a speculative basis,” said Brian Banaszynski, President of Heller Industrial Parks. “The building design, with 40’ top-of-product storage heights combined with parking for 85 trailers, was the key to attracting several prospective tenants for the project. Our sales and construction teams were highly coordinated and key to responding to the tenant’s needs, which made the leasing of this facility go smoothly.”
The driver behind the rapid pace of construction of the building has been two-fold: the extended mild fall weather, and Heller’s first use of pre-cast structural wall panels. It took only three months from ground-breaking until the building was “closed in” with the roof completed. The remaining building and site work continues at a rapid pace today, with a scheduled occupancy for early 2016.
Heller’s in-house engineering, construction and leasing departments are now proceeding with updating the designs for the balance of the 2.6 million square foot Heller Park North. “These new buildings will be a significant addition to the next generation of distribution centers built to satisfy the most stringent demands of today’s sophisticated storage, distribution and transportation logistics firms. Heller’s strategy has always been to secure locations and design buildings that will be highly desirable well into the future,” concluded Banaszynski.
About Heller Industrial Parks
Edison-based Heller Industrial Parks and I. Heller Construction were founded by Ike Heller in 1966. It is a full-service privately-held firm that develops, owns, leases and manages its own portfolio of over 16 million square feet of modern distribution and logistics buildings nationwide. Heller’s sites are strategically located with superior truck, rail and port access. Heller maintains over 170 acres of premier land sites ready for new development. For more information please see www.hellerpark.com
Minimize Heller completes more than 3.3M sq. ft. of leases Heller Industrial Parks, an Edison-based private distribution center developer, announced Thursday that in the first half of 2014, the company has completed 30 transactions involving more than 3.3 million square feet of space.
“The first half of 2014 has been very active,” Brian Banaszynski, president of Heller, said in a statement. “The market conditions across our entire portfolio are v... Complete ArticleHeller Industrial Parks, an Edison-based private distribution center developer, announced Thursday that in the first half of 2014, the company has completed 30 transactions involving more than 3.3 million square feet of space.
“The first half of 2014 has been very active,” Brian Banaszynski, president of Heller, said in a statement. “The market conditions across our entire portfolio are very strong. In several instances, Heller was able to secure lease extensions and expansions well in advance of scheduled expirations. Tenants are also seeking to enter into longer term lease commitments, as the supply of well-located and well-maintained buildings such as Heller’s are becoming more limited in their availability. This level of activity puts Heller on pace to exceed last year’s high level of activity, which would be a significant accomplishment.”
Steve Kaufman, David Paster, Allan Ramsay and Fred Kurtz, the Heller leasing team, worked closely with brokerage firms in multiple states to complete the transactions.
Highlights include:
•Alba Wine & Spirits signed for 303,183 square feet in Edison. Larry Casey and Robin Ritter-Ceriello of Cassidy Turley represented Alba, while Paster represented Heller.
•Selective Transportation expanded and extended its lease for a total of 225,395 square feet in Edison. Joel Lubin of JLL represented Selective, while Kaufman represented Heller.
•Exel Logistics renewed a 219,698-square-foot lease and Frontier Logistics renewed a 200,000-square-foot lease in La Porte, Texas. Kurtz represented Heller in both transactions.
•Multi-Group signed a new 258,455-square-foot lease in Edison. Andy Parella of CBRE represented the tenant and Ramsay represented the landlord.
“There were a large number of transactions, ranging from 20,000 to 100,000 square feet, so far this year,” Banaszynski said. “Heller designs its buildings in order to accommodate all size requirements. While we are busy with the existing building portfolio, Heller continues to work on our fully-approved 2.6 million square foot project in South Brunswick, which is within the highly-desirable Exit 8A submarket.
We are carefully monitoring market conditions to determine when to proceed with expanding our portfolio by developing the next generation of Heller Industrial Parks.” Minimize