CRANBURY—A lease expansion for one tenant at 324 Half Acre Road in Cranbury and a reduction/extension for a second has secured the building’s continued full occupancy, according to Cushman & Wakefield Inc. USAA Real Estate Company’s US Industrial REIT II owns the 680,000-sq.-ft., class-A distribution facility.
Hardware and housewares manufacturer Howard Berger Company Inc. added 60,000 sq. ft. to its long-term commitment, bringing its headquarters operation to 297,000 sq. ft. At the same time, logistics firm Kuehne & Nagel Inc. decreased its space at the building by that same amount and extended its multi-year lease, which now totals 383,000 sq. ft.
Cushman & Wakefield’s Stan Danzig and Jules Nissim, based at the firm’s East Rutherford office, represented US Industrial REIT II in both transactions. As exclusive marketing agents for the property, they also brokered Howard Berger Company’s and Kuehne & Nagel’s original leases at the property in 2008 and 2007, respectively. Teams from CBRE represented the two tenants in the recent expansion and reduction/extension.
Danzig and Nissim’s involvement with 324 Half Acre Road dates back more than a decade. The 55-acre parcel was part of a 115-acre campus that Church & Dwight inherited upon acquiring Carter Wallace’s consumer products division in 2000. Soon after, Church & Dwight retained the Cushman & Wakefield team to dispose of the property.
