South Washington Park 82 Percent Leased Within Three Months of CompletionPISCATAWAY, NJ – February 4, 2015 Trammell Crow Company and joint venture partner Clarion Partners announce that SHI International, one of North America's largest IT solutions providers, has signed a long-term lease for 305,721 square feet at 10 Knox Drive, one of two industrial buildings located within South Washington Park, a 532,792 square foot industrial project located in the heart of the Northern New Jersey Industrial Market. SHI will relocate to the building in 2Q 2015.
“We couldn’t be more pleased with the demand and interest South Washington Park is garnering from leading corporations across a variety of industries,” said Andrew Mele, Principal with Trammell Crow Company’s NE Metro Business Unit. “The project has become a premier industrial park, helped to redefine this area and created jobs.”
Founded in 1989, SHI International Corp. is a $6 billion+ global provider of technology products and services. Driven by the industry's most experienced and stable sales force and backed by software volume licensing experts, hardware procurement specialists, and certified IT services professionals, SHI delivers custom IT solutions to Corporate, Enterprise, Public Sector, and Academic customers. The firm has over 2,800 employees worldwide.
10 Knox Drive features high ceiling heights, efficient loading areas, wide column spacing, and ESFR sprinkler systems. In addition to 10 Knox Drive, South Washington Park is also comprised of 30 Knox Drive, which features 227,042 square feet with 96,000 square feet remaining to be leased. South Washington Park is located less than one mile from Exit 6 of I-287 and approximately six miles from the Exit 10 Interchange of the New Jersey Turnpike in the Port District. “The design features and location, with surrounding amenities, make this project unique. Ample car parking, and plenty of surrounding green space add to South Washington Park’s appeal to higher-end or image oriented clients” adds Joe Zingaro, asset manager with Clarion Partners.
JLL’s Steve Fleming and Shawn Straka represented the tenant while Nate Demetsky and Paul Torosian represented ownership in the transaction.
About Clarion Partners
Clarion Partners has been a leading U.S. real estate investment manager for 32 years. Headquartered in New York, the firm has offices in major markets throughout the U.S., in São Paulo, Brazil and London, England, as well as a presence in Mexico. With more than $30 billion in total assets under management, Clarion Partners offers a broad range of real estate strategies across the risk/return spectrum to its more than 200 domestic and international institutional investors. The Firm’s industrial footprint is comprised of nearly 99 million square feet across 43 markets across the U.S., Mexico and Brazil.
More information about the firm is available at www.clarionpartners.com.
About Trammell Crow Company
Trammell Crow Company, founded in 1948, is one of the nation’s leading developers and investors in commercial real estate. The Company has developed or acquired nearly 2,600 buildings valued at nearly $60 billion and over 540 million square feet. As of September 30, 2014, Trammell Crow Company had $5.1 billion of projects in process and 2.9 billion in its pipeline.
Trammell Crow Company’s teams are dedicated to building value for its clients with professionals in 16 major cities throughout the United States. The company serves users of and investors in office, industrial, retail, healthcare, multi-family residential and mixed use projects. For those who occupy real estate, TCC can execute the development or acquisition of facilities tailored to meet its clients’ needs. For investor clients, the company specializes in joint venture speculative development, acquisition/re-development ventures, build-to-suit development, or providing incentive-based fee development services.
Trammell Crow Company is an independently operated subsidiary of CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2013 revenue). For more information visit www.TrammellCrow.com.