50,000 SF Lease At Worlds Fair Corporate Center In Somerset, NJ

Commercial real estate firm CBRE recently announced it has brokered several lease agreements, totaling 50,000 square feet, at the Worlds Fair Corporate Center in Somerset.

CBRE’s Robert Pine, Mindy Lissner, William Waxman, Steven Beyda, Kevin Dudley and David Gheriani represented the landlord, First Industrial Realty Trust.

“In a submarket that has seen good demand but relatively low rent growth for the last five years, we’ve begun to see rents climb higher than was forecasted, and we’re also seeing an influx of leading companies with strong credit quality,” Pine said.

The transactions brokered by CBRE included:

• Validal leasing 10,000 square feet;
• AXYZ International leasing 5,000 square feet;
• Gericke leasing 5,000 square feet;
• H.U.S. Strategic Marketing leasing 5,000 square feet;
• ILEET Marketing Group leasing 5,000 square feet;
• John Deere leasing 5,000 square feet;
• Pace leasing 5,000 square feet;
• Shanco International leasing 5,000 square feet.

“With a rise in startups in the area, along with the regional expansion of national companies, the park is benefiting because it’s one of only a handful of industrial properties in the area that provides companies with modern space, desired amenities and an enhanced corporate image, and is owned and managed by a national real estate operator in First Industrial,” Pine said.

Worlds Fair Corporate center is comprised of six industrial/ flex buildings with spaces ranging from 5,000 to 25,000 square feet. The park is located one mile from Interstate 287’s Exit 10, with proximal access to the New Jersey Turnpike, Garden State Parkway and I-78, to name a few.