Cushman & Wakefield Reps Futai Inc. (USA) in Raritan Center Building Purchase
Umbrella Manufacturer Acquires 50,000 SF at 7 Parkway Place in Raritan Center Industrial Park.
- Newark, NJ (1888PressRelease) March 08, 2012 - Commercial real estate services firm Cushman & Wakefield, Inc. represented Futai Inc. (USA), in its recent acquisition of 7 Parkway Place in Edison. Futai is the world's largest manufacturer of umbrellas; the company will relocate its divisional headquarters and warehouse to the property, which is located within Raritan Center Industrial Park.
Cushman & Wakefield industrial brokerage specialists Rachel Pittard and Stephen Elman represented Futai Inc. (USA) in its acquisition of the 50,000-square-foot warehouse/distribution facility. This was a user-sale transaction. Futai carries and distributes its own umbrella brands - including Rainkist, Leighton and Tina T. - and services other private label brands. The firm is the largest provider of customized promotional umbrellas as well.
"Futai originally began its search to identify a more operationally efficient footprint. They considered both lease and sale options in the Edison and surrounding markets. Regarding 7 Parkway, Futai leadership recognized that purchase opportunities within Raritan Center Industrial Park rarely present themselves. 7 Parkway ultimately offered a perfect combination of operational functionality and wise investment practice."
Pittard added that Raritan Center Industrial Park's proximity to major transportation arteries, business/employee friendly amenities, curb appeal and truck-friendly access have made it a highly desirable location for distribution operations. "Having operated out of the Park for many years, Futai appreciates the advantages of conducting business in this Park and is fortunate to be able to continue its presence there," she said.
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