National Real Estate Company Experiences an Increase in Leasing Activity in Pennsylvania and New Jersey
IndCor Leases Over 2 Million Square Feet In Its Northeast Portfolio.
- (1888PressRelease) October 31, 2013 - IndCor, a premier real estate company focused on the ownership and management of industrial properties, recently saw an uptick in leasing activity in its Pennsylvania and New Jersey leased property portfolios through six transactions, totaling over 2 million square feet.
IndCor has completed three transactions in Pennsylvania including a 500,000 square foot transaction with Ozburn- Hessey Logistics; a 203,704 square foot transaction with BMS Logistics; and a 650,761 square foot lease with Schneider Electric Corporation.
IndCor has also recently completed three transactions in New Jersey, comprising a 396,501 square foot lease with Dynamic Marketing Inc.; a 154,096 square foot lease with Amware Logistic Services of NJ; and an 111,963 square foot lease with Graze Inc.
The recent IndCor leasing activity was brokered by several agents, those in Pennsylvania including: Gerry Blinebury of Cushman & Wakefield representing the landlord in the Ozburn- Hessey Logistics deal; Mike Zerbe of Colliers International representing the landlord at BMS Logistics; John Van Buskirk of Jones Lang LaSalle representing the landlord in the Schneider Electric Corporation deal, and Mike Hess of CBRE Inc. acting as broker for the tenant.
In New Jersey, brokers included: Mindy Lissner and Bill Waxman of CBRE Inc. and Ken Lundberg and Barry Cohorsky of NAI James Hanson in the Dynamic Marketing Inc. deal, representing the landlord and the tenant respectively; Noah Balanoff and Tom Monhan of CBRE Inc. representing the landlord, and Chuck Fern of Cassidy Turley representing the tenant in the Amware Logistic Services of NJ transaction; and Ken Lundberg and Barry Cohorsky of NAI James Hanson representing the tenant, with Marc Petrella of Cushman & Wakefield as the landlord broker during the Graze Inc. transaction.
"The exceptional leasing activity we are experiencing in Pennsylvania and New Jersey is evidence of the value of these properties and the continued improvement of leasing fundamentals in these core markets," says Tim Beaudin, President and CEO of IndCor.
About IndCor:
IndCor Properties, Inc. (IndCor) is one of the premier real estate companies in the United States focusing on the ownership and management of industrial properties. As a comprehensive real estate operator, IndCor currently owns and manages over 100 million square feet located in over 40 key logistics markets in 24 states. IndCor is headquartered in Chicago, Illinois.
IndCor was formed in 2010 as a portfolio company of The Blackstone Group, one of the world's largest alternative asset managers and advisory firms. To learn more, visit www.indcor.com.
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