JACKSON, N.J., Feb. 23, 2017 - Global Transport Logistics, Inc. has leased 253,575 square feet of newly constructed warehouse/distribution space in Piscataway, announced Colliers International NJ LLC, Inc.(NASDAQ: CIGI, TSX: CIG). Their relocation to 276 Old New Brunswick Road from Fair Lawn, N.J., will nearly double the third-party logistics company's regional warehouse footprint.
Colliers' Logistics and Transportation Group chartered members, Noah Balanoff, based in the global commercial real estate services firm's Parsippany, N.J., office, and Chuck Littell, of its Los Angeles, Calif., office, headed the long-term transaction on behalf of Global. Ontario, Calif.-based Gregory Healy, who leads Colliers' Supply Chain and Logistics Consulting group, were instrumental in developing Global's relocation strategy.
Global Transport Logistics is a licensed air, ground and ocean freight forwarding company, specializing in the consolidation and transport of less-than-truckload and truckload freight. "Our client was near capacity and continues to grow their customer base, so this was an opportune time to optimize their distribution and transportation to drive delivery costs down and increase service levels," Balanoff said.
"Gregg and his team examined Global Transport Logistics' customer and delivery locations to identify the best location," Balanoff added. "Within the local market, 276 Old New Brunswick Road offers all the efficiencies and functionality of new industrial construction. The property is an ideal fit." Balanoff also noted, "The landlord, Industrial Property Trust, Inc., was extremely helpful and creative in its efforts to bring Global Transport Logistics to its new development project." JLL served as landlord representative for Industrial Property Trust, Inc.
According to Balanoff, the transaction illustrates the benefits of Colliers' broker network and comprehensive service platform. "Chuck, who recently assisted Global with an expansion in Southern California, tapped into our local office to provide market knowledge and hands-on leadership," he said. "This, combined with the involvement of our supply chain specialty group, ultimately created a solution that provides efficiency and real estate cost savings, while positioning this valued client for strong future growth."
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