Avison Young brings 132,930-sf industrial property to full occupancy
January 24, 2024
Soligent Distribution relocates to Scannell Properties’ new facility
Morristown, NJ –Avison Young has arranged a new 54,973-square-foot (sf) lease on behalf of landlord Scannell Properties to Soligent Distribution, LLC, which distributes solar panels to the local market area. The lease brings the 132,000-sf property at 1 Debaun Road in Millstone, NJ to full capacity. The new industrial facility was the only remaining space within Scannell Properties’ New Jersey portfolio.
Scannell Properties was represented by Tim Cadigan, Matt Turse, John Gianis, and Judy Troiano, all based in Avison Young’s Morristown, NJ office. The tenant was represented by Mike Maroon of the Acclaim Group and Lauren Pesqueda of Whitebox Real Estate, based in Texas.
“The lion’s share of market activity with regards to industrial leasing in New Jersey is certainly skewing towards properties of 100,000-sf and smaller,” said Cadigan. “From this location, the tenant will be able to provide a solar panel distribution in a more convenient, centralized location, which is essential to their green/sustainability initiatives.”
The tenant was previously located at Exit 8A, about five miles from the new facility. The relocation represents an upgrade in asset class for the tenant.
“Avison Young did a great job working with our team in finding the right fit in tenants for our latest building in New Jersey,” said Andy Smith, Development Manager, Scannell Properties.
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