Industrial space fills up in New Jersey

Distributor attracted by city's lower costs

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Regency Warehousing & Distribution Inc. leased 437,000 square feet at Raritan Industrial Center in Flemington, N.J., for an undisclosed price. The space is located within an 851,705-square-foot industrial building -- formerly the Lipton Tea Building -- located at 1200 Route 523. Lincoln Equities Group, the building owner, acquired the facility in 2001. Building features include 20- to 47-foot clear ceiling heights, air-conditioned manufacturing and packaging areas, and ample parking and trailer spaces. "We are extremely gratified that Regency was able to see the intrinsic value in locating at a site that was further away from the main distribution hubs, and their cost savings will reflect that," said Joel Bergstein, executive vice president of Lincoln Equities Group. ...