Heller Industrial Parks retains JLL to lease recently completed 670K-SF logistics facility in New Jersey’s regional distribution corridor
30 Sigle Lane is the only immediately available industrial property of its size in the NJ Turnpike Exit 8A submarket
Dayton, Jan. 8, 2023 – JLL Northeast Industrial Region announced today it has been retained by Heller Industrial Parks, Inc., as the exclusive leasing agent for a recently-completed 674,209 square foot state-of-the-art distribution facility located at 30 Sigle Lane in Dayton, N.J.
The newest addition to the Heller Park North complex, 30 Sigle Lane is the only immediately available industrial property of its size in the Exit 8A corridor, the heart of a multi-modal hub connected to national and international markets via highways, ports, railways and airports. The site provides immediate access to the nation’s most densely populated region, with over 24 million people living in the NY–NJ–CT–PA combined statistical area.
A Class A distribution center with 116 loading dock doors, 140 trailer positions and 40 ft. clear ceilings, 30 Sigle Lane features a state-of-the-art design that can accommodate a wide range of material handling equipment with modern column spacing to support Very Narrow Aisle (VNA) racking and other high-bay racking options.
The exclusive JLL leasing team will be led by Vice Chairmen Rob Kossar, Leslie Lanne and Joel Lubin, Senior Managing Director Gary Politi and Vice President Charlotte Belling.
“We are thrilled to bring our experience in the industrial market to this first-of-its-kind partnership with Heller Industrial Parks, a forward-thinking developer with deep industrial expertise,” said Kossar. “As we are witnessing construction slowing down in this key corridor, 30 Sigle Lane is a uniquely desirable asset given the construction landscape – and a pivotal opportunity for occupiers eager to lock in well-located, modern industrial space to service increasing consumer demand in this region. We look forward to reintroducing this property to the market.”
Jason Grebin, President of Heller Industrial Parks, added, “This collaboration between our two organizations presents an exciting step for the Heller legacy – a dynamic combination of development expertise, market intelligence, and best-in-class consulting. Our work together will enable strategic real estate decision making to support tenants with end-to-end logistics solutions and gaining advantage in the New Jersey industrial market.”
According to JLL’s Q3 2023 New Jersey Industrial report, a drop off in construction starts caused by a difficult entitlement landscape and rising interest rates has resulted in just 1.8 million square feet of new product in the third quarter. Meanwhile, tenants are actively seeking approximately 17 million square feet of industrial space in the Garden State.
Said Lubin, “With a dearth of space forecasted over the next 12 months, we anticipate a great deal of interest from e-commerce, food and beverage and other distribution companies focused on strong distribution channels that support continued growth. The Northeast’s dense population and strong existing labor force make 30 Sigle Lane an extraordinary proposition in a highly competitive market.”
JLL formed its Northeast Industrial Region in early 2017, combining its industrial brokerage operations in Connecticut, New Jersey, New York and Pennsylvania into a single region. The firm merged its industrial business lines to better serve clients that increasingly view the industrial sector in all four states as one large interconnected market. The Northeast Industrial Market comprises approximately 1.76 billion square feet of industrial space and represents the largest industrial market in the United States.
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For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500® company with annual revenue of $20.9 billion and operations in over 80 countries around the world, our more than 105,000 employees bring the power of a global platform combined with local expertise. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAYSM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
About Heller Industrial Parks
Heller Industrial Parks is one of the nation’s largest privately held owners of industrial property, with 17 Million square feet of warehouse and distribution centers strategically located in New Jersey, Pennsylvania, Texas and Kentucky. As the developer, owner and operator of our own buildings for more than 50 years, we have consistently provided our tenants with both state-of-the-art facilities and unparalleled customer service. Heller strives to deliver a seamless solution to our tenants’ real estate requirements. Our success is the long-term relationships we have established with our customers –large and small, national and local – and our year-over-year near-zero percent vacancy rate.