Lease signed for new seven-acre warehouse in Sayreville
SAYREVILLE - A wholesale distribution company has signed a lease with Trammell Crow Company (TCC) for 342,371 square feet, more than 7.5 acres, at Arsenal Trade Center (Arsenal), a new 1 million-square-foot logistics center.
JW Fulfillment, Inc. leased one of the three buildings at 99 Callahan Blvd., according to a statement from TCC.
Arsenal, completed earlier this year, is in the Hercules Redevelopment Area.
“Arsenal Trade Center is strategically located in the heart of the largest and most dynamic consumer market in the world," said Andrew Mele, market leader for TCC’s Northeast region. "Despite the region’s importance to virtually all major global corporations, logistics projects of this scale and design quality are rare in the market. Arsenal was developed to world-class standards, with the needs of today’s most sophisticated occupiers – now and in the future – at the forefront of every design decision. We’re incredibly proud of the result and thrilled that JW Fulfilment has chosen Arsenal.”
Two opportunities to lease 285,000 and 451,602 square feet remain at Arsenal, with availabilities starting at 80,000 square feet.
More: Sayreville reverses course, OKs tax abatement plan for massive warehouse
Sayreville Borough Council approved a PILOT (Payment in Lieu of Taxes) for the development earlier this year. The PILOT had been denied by the Borough Council in 2023.
In November of 2023, the redeveloper filed a lawsuit in Middlesex County Superior Court alleging the Borough Council did not follow state law in rejecting the PILOT agreement in October.
Under the PILOT, the borough could realize nearly $100 million over 30 years under the terms of the agreement.
TCC is a global commercial real estate developer and wholly-owned subsidiary of CBRE Group, Inc. Founded in 1948, TCC has developed or acquired nearly 2,900 buildings valued at $75 billion and more than 655 million square feet.
Email: sloyer@gannettnj.com
Susan Loyer covers Middlesex County and more for MyCentralJersey.com. To get unlimited access to her work, please subscribe or activate your digital account today.
This article originally appeared on MyCentralJersey.com: Lease signed for new seven-acre warehouse in Sayreville