State-of-the-Art Industrial Facility to Serve as New HQ for General Plumbing Supply
April 29, 2021
Piscataway, NJ – Transwestern Development Company (TDC®) announces that General Plumbing Supply, Inc. (GPS) has signed a long-term, 300,000-square-foot lease at Piscataway Logistics Center, a new, two-building industrial project at 330 S. Randolphville Road. The lease commitment with the 100-year-old company, one of the largest distributors of plumbing, heating, HVAC and industrial supplies on the East Coast, was secured approximately five months prior to construction completion in fall 2021. Avison Young represented ownership in both the acquisition and leasing of the property, while GPS was represented by Avison Young and The Blau & Berg Company.
“We are very proud that GPS has chosen Piscataway Logistics Center for its new headquarters, showroom and distribution center,” said Brian Banaszynski, Regional Partner with TDC’s Logistics Group. “Broad interest in this project underscores the strength and significance of New Jersey’s industrial real estate market, and we are confident that this state-of-the-art facility will provide the efficiencies and flexibility GPS was searching for in well-located, modern distribution space.”
A development of TDC and its partner, QuadReal Property Group, Piscataway Logistics Center is situated on a 16-acre site just 40 miles from New York City. The asset comprises a ground-up, 151,748-square-foot, Class A warehouse and a fully renovated, 146,000-square-foot warehouse. Both rear-load buildings feature 36-foot clear heights, a combined 39 dock doors, ample car and trailer parking, and a shared truck court depth of 185 feet.
“Support for the project from Piscataway Mayor Wahler, as well as the Council, Planning Board and Zoning & Building Department has been invaluable,” Banaszynski said.
The project was approved at the outset of the COVID-19 pandemic in New Jersey’s first virtual Planning Board meeting, with the legal assistance of Bob Smith & Associates.
Piscataway Logistics Center offers outstanding visibility and direct access to Interstate 287 at a full four-way interchange between the Route 287 West and I-95 Exit 10 submarkets, where only 1.8% of existing inventory remained vacant as of the first quarter of Q1 2021, according to Transwestern research.
Tim Cadigan, Matthew Turse and Grant Otto of Avison Young represented ownership. Ed English and Ron Ganter of Avison Young, along with Michael Schipper of Blau & Berg, represented GPS.
About Avison Young
Avison Young creates real economic, social and environmental value as a global real estate advisor, powered by people. As a private company, our clients collaborate with an empowered partner who is invested in their success. Our integrated talent realizes the full potential of real estate by using global intelligence platforms that provide clients with insights and advantage. Together, we can create healthy, productive workplaces for employees, cities that are centers for prosperity for their citizens, and built spaces and places that create a net benefit to the economy, the environment and the community.
About The Blau & Berg Company
The Blau & Berg Company, headquartered in Short Hills, New Jersey, provides clients with a complete range of commercial real estate services, including site selection, acquisitions, dispositions, leasing, tenant representation, portfolio sales, asset repositioning, and property & construction consulting.
About QualReal Property Group
Headquartered in Vancouver, Canada, QuadReal Property Group is a global real estate investment, operating and development company. QuadReal manages the real estate equity and debt programs of British Columbia Investment Management Corporation (BCI), one of Canada’s largest asset managers with a $171.3 billion portfolio.
QuadReal manages a $44.2 billion portfolio spanning 23 Global Cities across 17 countries. The company seeks to deliver strong investment returns while creating sustainable environments that bring value to the people and communities it serves. Now and for generations to come.
About Transwestern Development Company
Transwestern Development Company (TDC®) creates real estate landmarks for itself, its partners and valued customers throughout the United States. Part of the Transwestern companies, the diversified business develops logistics, multifamily, office, mixed-use and healthcare properties, with a pipeline of projects in process or completed since 2012 exceeding $5.6 billion.
The privately held Transwestern companies have been delivering a higher level of personalized service and innovative real estate solutions since 1978. An integrated approach formed from fresh ideas drives value for clients across commercial real estate services, development, investment management and opportunistic programs for high-net-worth investors. The firm operates through 34 U.S. offices and global alliances with BNP Paribas Real Estate and Devencore. Learn more at transwestern.com and @Transwestern.
Media Contact:
Monica Sparreo
312.881.7059
twmediarelations@transwestern.com
