CenterPoint Announces Vertical Construction Project, 15-Year Lease Extension With Promotion In Motion
Posted By Staff Writers On May 29, 2019 @ 8:29 am
OAK BROOK, IL – CenterPoint Properties is proud to announce the expansion and 15-year lease extension of PIM Brands, LLC’s facility at 500 Pierce Street in Somerset, New Jersey. This development project—CenterPoint’s first vertical construction undertaking in New Jersey—is an answer to PIM’s rapidly evolving manufacturing needs.
PIM Brands, LLC is part of the Promotion In Motion family of companies and is a leading manufacturer of brand name fruit snacks and confections including Welch’s® Fruit Snacks, Sun-Maid® Chocolate Raisins, Original Gummi FunMix® gummi candies and much more. To help PIM address increasing product demand, CenterPoint will expand their manufacturing facility by 72,816 square feet, totaling over 250,000 square feet. This extra space will accommodate new production lines and facilitate product distribution with 40′ clear heights, six tailboard doors and 20 auto parking stalls.
“We’re thrilled to partner with PIM on this development,” said David Nenner, CenterPoint Senior Vice President and Regional Manager. “This building expansion will drive PIM’s production capabilities, help them continue to grow their business and create new jobs.”
“A vertical construction project like this presents new possibilities for PIM’s space,” said Brendan Warland, CenterPoint Vice President of Development. “It’s also a great addition to the 4.7 million square feet that CenterPoint manages in New York and New Jersey.”
PIM’s representatives, Chuck Fern of Cushman & Wakefield and Bob Nathin of Sheldon Gross, made this transaction possible. CenterPoint was represented in-house by David Nenner. The official groundbreaking is scheduled to take place May 30, 2019.
About CenterPoint Properties
CenterPoint is an industrial real estate company made up of dedicated thinkers, innovators and leaders with the creativity and know-how to tackle the industry’s toughest challenges. And it’s those kinds of problems—the delicate, the complex, the seemingly-impossible—that we relish most. Because with an agile team, substantial access to capital and industry-leading expertise, those are exactly the kinds of problems we’re built to solve. For more information on CenterPoint Properties, visit centerpoint.com, follow @CenterPointProp on Twitter or engage with us on LinkedIn.