Binswanger Negotiates Major Lease on Behalf of Tory Burch in Carteret, New Jersey.

MORRISTOWN, N.J. -- On behalf of women's clothing and accessory designer Tory Burch Shoes, Binswanger is pleased to announce the lease of 88,866 sq. ft. at 50 Middlesex Avenue in Carteret, New Jersey. The property is situated in ProLogis' Port Reading Business Park. Lease terms were not disclosed.

The building will serve as a distribution hub for all Tory Burch boutiques and also house customer services. The company plans to be operational in Carteret before the holiday season. Frank Truesdell, senior vice president of Binswanger, represented Tory Burch in the transaction.

"The combination of a highly accessible location in a high-quality, new construction building in tandem with ownership's aggressive and professional pursuit of this tenant made 50 Middlesex Avenue a logical choice for Tory Burch," said Truesdell.

The building is located within ProLogis' Port Reading Business Park and is part of a 3.2 million-square-foot, master-planned development. The 50 Middlesex Avenue property is now 100 percent occupied. Frank Caccavo and Jason Goldman of Cushman & Wakefield represented the owner, ProLogis, in the transaction.

Headquartered in Philadelphia, Pa., Binswanger is an international full-service real estate organization with offices worldwide throughout the U.S.A., Canada, Mexico and South America, the U.K. and Europe, the Middle East, and Asia.