Energy Battery Group Inc., a national battery distributor, signed a long-term, 72,937-square-foot lease at a Raritan commercial facility, brokers involved with the deal said.
The deal at 1200 Route 523 includes 64,044 square feet of industrial space and 8,893 square feet of office space, according to a news release from Colliers International, which arranged the transaction. The 851,000-square-foot property is owned by Equity Industrial Flemington LLC.
The company provides battery distributors with options for group buying of battery services and products including automotive, commercial and marine batteries, the news release said. The lease will accommodate the tenant’s expanding operations and workforce.
“Energy Battery Group’s expansion signals steady growth for the battery industry and this new location will complement EBG’s other spaces throughout the country,” said Joe Nitti, an executive managing director for Colliers International’s industrial group, who represented the landlord in the transaction. “As an economical, secondary market that services southeast New Jersey and Pennsylvania, Raritan is a good growth market for the industrial sector.”
Jason Adams of Coldwell Banker Commercial Feist & Feist Realty Corp. represented the tenant in the transaction, the news release said. The deal brings the building to 90 percent occupancy.
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