Jones Lang LaSalle expands.

Jones Lang LaSalle has recently expanded its operations in the New Jersey market with a number of major office leasing and tenant representation assignments. Now, the leading strategic real estate advisory is focused on becoming the Garden State's preeminent leader in industrial property sales and leases.

One of Jones Lang LaSalle's largest industrial assignments is the marketing of 131 Docks Corner Road in South Brunswick, a 235,000-SF distribution center on 44 acres located within the 8A industrial corridor (so named for its exit of the New Jersey Turnpike) owned by pharmaceutical giant GlaxoSmithKline (GSK). The property was a former distribution and warehouse facility for GSK's consumer health products division (which included leading brand name dental products such as Sensodyne and Polident). GSK relocated those operations to Memphis, Tenn. and assigned disposition of the property to Jones Lang LaSalle.

"The GSK building is one of the rare purchase opportunities available in the 8A industrial corridor," said David Nenner, vice president of Jones Lang LaSalle's Corporate Services, who specializes in industrial sales and leases. "It is the only existing facility for sale in the area that is served by an active rail line and has plentiful land to accommodate both extensive trailer parking and future building expansion. Its flexible design and layout are suitable for both light manufacturing and warehouse/distribution operations, and the asking price has just been reduced from $11.5 million to $11 million."

"The main focus of our industrial activity to date has been to serve our national and global corporate clients in the disposition of excess distribution and warehousing facilities in New Jersey," said Ken Siegel, managing director of Jones Lang LaSalle. "However, as the needs of our clients have grown, we have developed our industrial services capabilities to parallel our traditional service offerings in the office sector. We now have full-service industrial capabilities across the country, ranging from strategic advisory services and locational consulting to transactional acquisitions, leasings, financings and disposition services.

"The entire industrial market has grown exponentially in the last few years from a sector formerly comprised of individual family-owned parcels to dominance by institutional investors, primarily REITs, with massive multi-site, multi-state operations," Siegel said. "This rapidly changing market structure requires that corporations wishing to conduct site selection, acquire new space, or dispose of non-core industrial real estate be represented by a firm such as Jones Lang LaSalle that has the resources, market knowledge, industry relationships and the financial acumen to execute transactions and reinvigorate the bottom line.

"With the addition of David Nenner, a seasoned New Jersey industrial real estate professional and the recent addition of Charlie Hatfield on our office transaction team, our presence in the important New Jersey market is poised for long-term growth," Siegel said. "And we believe our timing in the market couldn't be better!"