NEW JERSEY—The New York Shipping Association Inc. has renewed and expanded its lease at 333 Thornall Street in Edison. The nonprofit organization will now occupy 17,212 sq. ft. at the location.
Robert Goodman, executive managing director, John Cunningham, executive managing director, and Kevin Coleman, director, all of Colliers International Tri-State, represented the tenant in the transaction. Kevin Carton of Cushman & Wakefield and Dan Frank, of Kwartler Associates Inc. represented the landlord, TA Realty Associates, in the transaction.
New York Shipping Association is a not-for-profit organization comprised of the ocean cargo carriers, terminal operators, stevedores and marine-related businesses that move more than $190 billion in products to and from consumer markets around the world. The group took expansion space to accommodate growth needs.
“The New York Shipping Association has been a tenant in the building since 2007 and enjoyed an outstanding working relationship with the building management team,” said Goodman. “Retrofitting their overall premises will create greater operating efficiencies moving forward. The landlord in turn stabilized its long-term cash flow with a super credit tenant in hand.”
Constructed in 1984, 333 Thornall Street is a 193,675-sq.-ft., LEED-registered property with an on-site property manager and restaurant located in close proximity to a commuter rail station. The building is accessible from the Garden State Parkway, New Jersey Turnpike, I-287 and Routes 1 and 27.