Defense contractor VSE Corp. on Thursday announced it has signed a long-term lease for a 256,390-square-foot warehouse in South Brunswick, N.J., where it plans to store and auction off merchandise obtained by federal agencies.
The value of the transaction was not disclosed.
VSE will take occupancy of the space, located at 111 Herrod Blvd., by summer. Forsgate Industrial Partners owns the warehouse, which features 36-foot clear ceilings on a 19.6-acre site.
The lease comes just one year after the Virginia-based company leased a 103,881-square-foot warehouse at 35 Thatcher Road, also in South Brunswick.
"Due to the immediate need for increased capacity, VSE wanted to find additional warehouse space near its existing facility in South Brunswick," according to international commercial real estate services firm Studley, which represented VSE in both long-term lease transactions.
According to Studley, VSE collected the merchandise from the Department of Homeland Security (DHS), Customs and Border Protection (CBP), Immigration and Customs Enforcement (ICE), Secret Service and the Internal Revenue Service (IRS), as part of a $113 million contract with the U.S. Department of the Treasury.
In 2007, the DHS seized $200 million worth of counterfeit or pirated goods, exceeding the 2006 value of seized merchandise by 27 percent, according to a press statement.
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