1200 Innovation Way

60Employees mappedFT 38PT 19

46 minMedian routed driveFT 46PT 46

68%Within 60 minFT 68%PT 74%

93%Within 75 minFT 92%PT 95%

20 mi NWorkforce center of gravity

Radius rings at 10 / 20 / 30 / 45 miles · the 45-mile ring captures 48 of 60 employees (80%). Dark pins mark the company's three current locations — Bridgewater NJ, Elizabeth NJ, and Middletown NY. Three long-distance employees — Woodcliff Lake NJ, Byram NJ, Hawthorne NJ — plot beyond the default view (zoom out to see them).

Headcount by routed drive-time band

Under 30 min

4

2

64 FT · 2 PT

30–45 min

8

5

138 FT · 5 PT

45–60 min

14

7

1

2214 FT · 7 PT · 1 unspec.

60–75 min

9

4

2

159 FT · 4 PT · 2 unspec.

Over 75 min

3

1

43 FT · 1 PT

Full-time Part-time Status not listed · Hover any segment for its headcount

Workforce & commute considerations

The roster's center of gravity sits about 20 miles north of the site, around the Hackettstown / Washington / Route 57 corridor. Commute impact is concentrated in the Warren, Morris, and Hunterdon County cluster rather than spread evenly.
68% of employees fall within a routed hour of the site, and 93% within 75 minutes. The largest single group — 22 employees, including 14 full-time — lands in the 45–60 minute band, with another 15 in the 60–75 band. Together these two bands are the natural focus for retention planning if a move proceeds.
Six employees are within 30 minutes, including current Bridgewater-area staff — for that group and much of the near-site cohort, the move is roughly commute-neutral.
Part-time coverage may shift toward local hiring. 12 of 19 part-time employees route 45+ minutes; the Somerset–Hunterdon labor pool provides a deep local bench for any backfill needed.
Four employees route 75+ minutes (Woodcliff Lake, Byram, Hawthorne, and one further north). Their work arrangements are worth confirming before including them in commute-based planning.

Method & notes. Drive times and mileage are from an origin–destination routing matrix run against each employee's matched street address (rooftop-level "PointAddress" matches for the large majority of records; the remainder matched at street or postal level). For display, employee locations are plotted at ZIP-code centroids; individual point popups show each employee's routed time and mileage. Three records had no FT/PT designation and appear gray. If the routing matrix was run without a peak-hour traffic scenario, morning peak times may vary from the values shown. Sample dashboard: all names, addresses, and figures on this page are fictional and for illustrative purposes only. Prepared by the Balanoff Industrial Team · Colliers.

Recent Class B/C lease comps · 287 Corridor & Somerset County · Feb 2024 – May 2026. Numbered markers correspond to the table below. The amber star marks the subject site at 1200 Innovation Way; radius rings at 5 / 10 / 15 / 20 miles.

First-year taking rents vs. proposal & ask — west to east across the corridor

Each dot is a comp (numbers match the map and table), positioned west–to–east by geographic location and vertically by first-year taking rent (NNN). The shaded band is the gap between the proposed $9.75 and the $12.95 asking rent. Eastern comps (Edison / Raritan Center) carry a central-location premium and set the top of the range; the deals nearest the subject — Marcolin ($12.50) and American Spraytech ($13.25) in Branchburg — sit well above the proposal, supporting an argument that the proposed rate reflects the building's older specs rather than corridor softness. Invoclar Vivadent is plotted at its $13.00 effective taking rent; the $7.50 first-year contract rate was concession-driven.

Lease comp detail

#	Date	Tenant	Address	Type	SF	Term (mo)	Base Rent + Escalations	Free (mo)	TI/SF	Owner	Clear Ht	Class
1	May 2026	Salt Logistics	645 Howard Street, Somerset	Renewal	65,000	90	$13.50 NNN + 3.5% annual increases	6	$5	Raith Capital Partners	17′0″	B/C
2	Apr 2026	ISC Gums	65 Brunswick Avenue, Edison	Renewal	113,386	60	$15.00 NNN + 3.5% annual increases	5	As-is	Sagard	20′0″ - 24′0″	B/C
3	Dec 2025	Lex Associates	3 Taylor Road, Edison	New Lease	51,000	60	$10.50 NNN + 3.25% annual increases	0	As-Is	Jos Muscrelle	20′0″	B/C
4	Sep 2025	Morerich Tech	120 Circle Drive, Piscataway	New Lease	135,990	63	$11.25 NNN + 3.5% annual increases	3	—	Levin Management	24′0″	B/C
5	Sep 2025	Plainfield Produce	84-88 Executive Avenue, Edison	Renewal	30,025	60	$15.22 NNN + 3% annual increases	0	As-Is	Heller Industrial Parks	28′0″	B/C
6	Aug 2025	OEC	131-135 Fieldcrest Ave, Edison	New Lease	32,872	61	$14.50 NNN Yr1, $14.75 NNN Yr2 + 3% annual increases thereafter	1	As-Is	Federal Business Centers	24′0″	B/C
7	Aug 2025	Blue Whale Logistics	75 Carter Drive, Edison	New Lease	106,464	39	$14.25 NNN + 3.5% annual increases	3	As-Is	Starlight Accessories	24′0″	B/C
8	Jul 2025	Marcolin Eyewear	3140 Route 22 West, Branchburg	Renewal	151,000	120	$12.50 NNN + 4.0% annual increases	0	$17	Faropoint	18′0″	B/C
9	Jun 2025	Source Logistics	41-49 Distribution Boulevard, Edison	New Lease	166,425	63	$14.50 NNN + 3.5% annual increases	3	$2	Heller Industrial Parks, Inc.	22′0′	B/C
10	Jun 2025	Village Office Supply	245 Belmont Drive, Somerset	New Lease	49,483	62	$14.75 NNN + 3.0% annual increases	2	As-Is	Heller Industrial	24′0′	B/C
11	Jun 2025	JAS Forwarding	245 Belmont Drive, Somerset	New Lease	37,700	60	$15.00 NNN + 3.5% annual increases	0	As-Is	Heller Industrial	24′0′	B/C
12	May 2025	Invoclar Vivadent Manufacturing	500 Memorial Drive, Somerset	Renewal	78,802	194	$7.50 Yr. 1, $13.00 Yr.2 + 3% annual escalations	0	$14	Baker Properties	26′0″	B/C
13	May 2025	Menasha	112 Truman Drive, Edison	Renewal	203,512	61	$15.15 NNN + 3.5% annual increases	1	As-Is	Prologis	24′0″	B/C
14	May 2025	Menasha	11 Kilmer Court, Edison	Renewal	156,000	61	$15.15 NNN + 3.5% annual increases	1	As-Is	Prologis	24′0″	B/C
15	Mar 2025	Coffman Stair Parts	115 Fieldcrest Avenue, Edison	Renewal	42,682	36	$14.85 NNN + 3.5% annual increases	0	As-Is	Federal Business Centers	24′0″	B/C
16	Feb 2025	American Spraytech	140 Meister Avenue, Branchburg	New Lease	78,997	72	$13.25 NNN + 3% annual increases	0	As-Is	Lollicup Store	36′0″	A
17	Feb 2025	Pedowitz Machinery Movers of New Jersey	111 Cokesbury Road, Lebanon	New Lease	200,740	88	$10.00 NNN + 3% annual increases	4	$2.70	Safavieh	24′0″	B/C
18	Feb 2024	RMAX Logistics	1200 Route 523, Flemington	Expansion	72,386	56	$10.00 NNN + 4% annual increases.	0	As-is	Safavieh	20′0″	B/C

Notes. Comps as provided, deals signed February 2024 – May 2026; all Class B/C except 140 Meister Avenue (Class A, included for corridor context). Source: Balanoff Industrial Team.

91,240Industrial workers within 40 min

1.09×Concentration vs. national

$21.60/hrMedian earnings

+4.2%Job growth 2020–25

980Related grads / yr (5 institutions)

What this data says about the labor market at 1200 Innovation Way

The labor pool is deep. 91,240 people work in the 18 core industrial occupations within a 40-minute drive of the site.
Above-average concentration of workers. For every 100 industrial workers a typical U.S. region this size would have, this area has 109, about 7,500 more than expected. More supply generally means easier hiring.
It's a growing pool, not a shrinking one. Industrial employment across the 112-ZIP drive shed grew 4.2% from 2020–2025 and is projected to keep growing through 2030.
Wages sit close to national parity. Median earnings of $21.60/hr run just $0.32 below the national median, and core warehouse roles (laborers ~$18.55, stockers ~$16.91, forklift operators ~$21.71) price in line with competitive markets.
The workforce is concentrated east of the site. Edison, Somerset, Piscataway, and Carteret ZIPs hold the largest industrial employment bases, with Perth Amboy the largest source of resident industrial workers. The site draws from the deep end of the shed.
The talent pipeline is real. 980 related completions per year from five regional institutions, led by Rutgers New Brunswick (610) and Raritan Valley Community College (140), so supervision, logistics, and engineering roles have a refill source.

Hourly earnings: key warehouse & production roles (40-min shed)

The median is the worker exactly in the middle: the going rate. The 25th percentile means a quarter of workers earn less than this, roughly the entry-level end of the pay range. The 75th percentile means only a quarter earn more, roughly what experienced workers command. Together they show the realistic wage band for hiring: offer near the 25th to fill entry-level seats, near the 75th to poach experienced talent.

Occupation	25th Pctl.	Median	75th Pctl.
Stockers & Order Fillers	$15.66	$16.91	$20.12
Laborers & Freight / Material Movers	$16.32	$18.55	$21.66
Packers & Packagers	$17.20	$19.92	$21.42
Shipping, Receiving & Inventory Clerks	$18.00	$20.83	$24.90
Industrial Truck / Forklift Operators	$19.12	$21.71	$27.10
Light Truck Drivers	$19.13	$21.59	$25.48
Heavy & Tractor-Trailer Drivers	$25.97	$29.65	$35.69
Industrial Machinery Mechanics	$27.05	$33.71	$40.21
First-Line Production Supervisors	$29.13	$37.71	$47.10

Workforce Availability

Lightcast Q3 2026 · 21 pages · 40-minute drive shed

Supply-side deep dive on the 18 core industrial occupations across the 112 ZIP codes within 40 minutes of the site: employment by ZIP with 5-year growth, hourly earnings by occupation and percentile, regional trend lines vs. the nation, and the graduate pipeline by program and institution.

Sample only — report not included

Occupation Snapshot Report

Lightcast Q3 2026 · 23 pages · Colliers-curated industrial set

Executive-level benchmarking of the same 40-minute shed: supply vs. the national average, compensation vs. nation with cost-of-living adjustment, industry mix (warehousing, employment services, couriers), place-of-work vs. place-of-residence commuter flows, and occupation gain/drain career transitions.

Sample only — report not included

Source & scope. Lightcast Q3 2026 data set (QCEW, non-QCEW, and self-employed). Geography: 112 ZIP codes within a 40-minute drive of 1200 Innovation Way, Branchburg. Occupations: 18 Colliers-curated industrial SOC codes spanning warehouse, production, transportation, maintenance, and supervisory roles. Full occupation and ZIP lists are in the report appendices.

$9.75 / $10.65Yr-1 rate (NNN): proposed / countered

5 / 2 moFree rent: proposed / countered

5 / 8.75 yrTerm: proposed / countered

Proposed Tenant Response

$10.05Yr-1 rate (NNN)

3 moFree rent

5 yrTerm

Deal terms at a glance: tenant proposal (3/3) vs. landlord response (3/10)

Term	Tenant Proposal	Landlord Response	Read
Premises	58,500 SF	58,500 SF	Same
Year-1 base rent	$9.75/SF NNN	$10.65/SF NNN	$0.90/SF apart; both escalate 2.75%/yr
Lease term	5 years	8 years 9 months	Landlord wants 45 more months of term
Free rent	5 months	2 months (net only; tenant pays OpEx)	Less than half the abatement, and gross-up on OpEx
Commencement	May 1, 2027 (post Landlord's Work)	Upon completion of Landlord's Work / CO	Model assumes Mar 2027 start; verify timing
TI allowance	$105,300 ($1.80/SF)	$0	Full concession rejected
OpEx (Yr 1)	$2.55/SF, controllables capped 4%	$2.95/SF incl. 2% mgmt fee; no cap stated	Cap and mgmt fee unresolved
Landlord's Work	Full office build-out, restrooms, LED warehouse lighting, dock levelers, roof free of leaks	Office finish (building standard) + parking lot seal-coat/restripe	Scope narrowed
Roof / systems	Landlord repairs structural + systems warranty 1 yr	Tenant maintains roof, HVAC, lot; LL covers first replacement; repairs capped $8K/yr each	Meaningful risk shift to tenant; roof is 2016 w/ 20-yr warranty
Renewal	One 5-yr option	One 5-yr option, 9 months notice	Aligned

Cost per SF per year (gross effective): tenant proposal vs. landlord response vs. proposed tenant response

Tenant Proposal Landlord Response Proposed Tenant Response

Gross effective rent, undiscounted, over each scenario's own paying term (60 months for the tenant proposal and proposed response; 60-month equalized figure for the landlord shown in the summary below). Source: deal comparison model, NPV & EAC Analysis tab.

Annual gross cash outflow: tenant proposal vs. landlord response vs. proposed tenant response (equalized 60-month term)

Tenant Proposal Landlord Response (truncated to 60 months) Proposed Tenant Response

Equalized 60-month summary & effective rent

Metric	Tenant Proposal	Landlord (60 mo)	Proposed Tenant Response	Difference (Response−LL)
Total Gross Cash Outflow	$3,567,435	$4,103,620	$3,812,938	−$290,682
Average Gross Rent / Month	$59,457	$68,394	$63,549	−$4,845
Gross Effective Rate ($/SF/yr)	$12.20	$14.03	$13.04	−$0.99

Note: the “Landlord (60 mo)” column is truncated to the first 60 months to provide an apples-to-apples comparison against the 5-year (60-month) tenant proposal and proposed tenant response; the landlord's proposed term actually runs 105 months (8.75 years). Over its full term the landlord response totals $7,666,484 gross at a $14.98/SF/yr gross effective rate, which is not directly comparable on a like-for-like basis. Sample dashboard: all figures on this page are fictional and for illustrative purposes only. Source: deal comparison model, Cash Flow Comparison and NPV & EAC Analysis tabs.

Tenant Lease Proposal

Colliers · March 3, 2026 · Word

Our proposal on behalf of Meridian Packaging Co.: 58,500 SF, 5-year term, $9.75 NNN with 2.75% escalations, 5 months free, $105K TI, full Landlord's Work scope, and systems warranties.

Sample only — document not included

Landlord Response

Cornerstone Realty Advisors · March 10, 2026 · PDF

Ownership's counter: $10.65 NNN with 2.75% escalations, 8-year-9-month term, 2 months net abatement, $0 TI, narrowed Landlord's Work, and tenant responsibility for roof, HVAC, and parking with capped repair exposure.

Sample only — document not included

Deal Term Comparison Model

Balanoff Industrial Team · March 11, 2026 · Excel

Side-by-side cash flow engine: month-by-month rent schedules for the tenant proposal, landlord response, and proposed tenant response; equalized 60-month comparison, detailed line items, and an NPV / equivalent-annual-cost analysis with an adjustable discount rate.

Sample only — model not included

Notes. Terms summarized from the March 3, 2026 tenant proposal and the March 10, 2026 landlord response; economics from the deal comparison model (58,500 SF; NPV and equivalent annual cost at an 8% discount rate, adjustable in the workbook). Both documents are non-binding proposals for discussion purposes. Sample dashboard for illustrative purposes only — tenant, landlord, and deal terms shown are fictional.

1200 Innovation Way · Branchburg, NJ