WORLDPAC Leases 232,000 S.F. Distribution Center In South Brunswick, NJ

Newark, CA-based World Wide Parts and Accessories (WORLDPAC) has leased 232,000 square feet in South Brunswick, NJ to house its East Coast Distribution Center.

World Wide Parts and Accessories (WORLDPAC) has leased 232,000 square feet at 300 Herrod Boulevard in South Brunswick, NJ, announced Jules Nissim of Cushman & Wakefield of New Jersey, Inc. The company will house its East Coast Distribution Center at the property, which Adler Development is currently constructing.

Newark, CA-based WORLDPAC, a nationwide distributor, imports and distributes automotive replacement parts for the import repair specialty market. According to Patrick Healy, Vice President of Distribution East, the company has grown significantly commensurate with demand in this market niche.

WORLDPAC will relocate its operations to South Brunswick from another Adler Development property in Edison, nearly doubling its space. Adler initially began construction of 300 Herrod Boulevard on a speculative basis in mid-2004. The flow-through building will be completed in July 2005, featuring 32 loading doors and interior customizations for WORLDPAC.

"We are very pleased to remain a tenant of Adler Development," Healy said. "The firm's support of our growth has been a key to our success and has enabled us to make a long-term commitment to doing business in the State of New Jersey. We are happy, in turn, to assist Adler with the success of 300 Herrod Boulevard."

Healy added that 300 Herrod Boulevard was a logical choice for WORLDPAC, and Cushman & Wakefield, which serves as the company's national real estate services provider, was instrumental in executing the lease. Robin Dodson of Cushman & Wakefield's Los Angeles, CA office spearheads the account; Nissim and Stan Danzig of the firm's East Rutherford, NJ office, orchestrated the 300 Herrod Boulevard transaction.

"Jules and Stan are responsive, innovative and informative," Healy said. "What they did in terms of helping us explore our options and validating some of our own thoughts was phenomenal."

VISION AND APPROACH ENABLE SMALLER DEVELOPER TO COMPETE

According to Nissim, the 300 Herrod Boulevard project and WORLDPAC lease there illustrate Adler Development's success as a smaller, family-owned company in a market increasingly dominated by REITs and institutional players. "The WORLDPAC lease demonstrates Adler's hands-on approach and dedication and commitment to working with their tenants," he said. "In a market where speculative development is just beginning to re-emerge, the company recognized the potential for 300 Herrod Boulevard. This foresight resulted in a win-win situation for both Adler and WORLDPAC."