C&W arranges sale of 350,000 s/f industrial site.Seagis Property Group has purchased 621 Route 1 in North Brunswick, N.J., from Permacel Inc., for $7.8 million. Cushman & Wakefield of New Jersey, Inc. orchestrated or·ches·trate tr.v. or·ches·trat·ed, or·ches·trat·ing, or·ches·trates 1. To compose or arrange (music) for performance by an orchestra. 2. the sale and has been appointed exclusive leasing agent for the 350,000 s/f industrial complex, which Seagis will renovate in the near future. The property, now to be known as Seagis Corporate Park at Route 1, is the former manufacturing and distribution facility for Permacel, a subsidiary of Osaka-based Nitto Denko Nitto Denko Corporation (日東電工株式会社 . It sits on 30 acres adjacent to the Technology Centre of New Jersey The Technology Centre of New Jersey is a science park in North Brunswick Township, New Jersey, United States, established by the New Jersey Economic Development Authority as a high technology business incubator. . The building includes warehouse/ distribution, assembly/manufacturing and office space. Future tenants will benefit from abundant loading areas Noun 1. loading area - a stop where carriers can be loaded and unloaded loading zone stop - a spot where something halts or pauses; "his next stop is Atlanta" , excess parking accommodations and state-of-the-art internal systems. Seagis will demolish de·mol·ish tr.v. de·mol·ished, de·mol·ish·ing, de·mol·ish·es 1. To tear down completely; raze. 2. To do away with completely; put an end to. 3. portions of the building's interior, upgrade its facade, improve loading and circulation, replace and repair the roof, install new lighting, update the landscaping and complete other general improvements. The building will be ready for delivery in spring 2006. "Upon completion, Seagis Corporate Park at Route 1 will offer Class A mixed-use space along the desirable Princeton-New Brunswick research corridor," said Frank Caccavo, who is heading the leasing team with Jason Goldman and Andrew Siemsen of Cushman & Wakefield's Edison, N.J., office. They also represented Seagis in negotiating the building purchase. Andrew Schiffer, based in Cushman & Wakefield's East Rutherford Rutherford (rŭth`ərfərd), borough (1990 pop. 17,790), Bergen co., NE N.J., a residential suburb of the New York City–N New Jersey metropolitan area; inc. 1881. Several pre-Revolutionary houses remain there. , N.J., office, represented Permacel in the sale. The building can accommodate industrial users from 25,000 to 320,000 s/f, and office users up to 30,000 s/f. "We have been encouraged by the strong initial interest from a broad spectrum of prospective tenants," said Dave Gibbons Dave Gibbons (born April 14, 1949) is a British writer and artist of comics. IPC Comics Gibbons broke into British comics by working on horror and action titles for both DC Thomson and IPC. When 2000 AD was set up, Gibbons was brought in as an Art Director. , Seagis' senior vice president. "We look forward to delivering this renovated product to the market early next year." |
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