CBRE to Market, Lease 4 Industrial Properties in NJ
- May 03, 2017
CBRE was singled out as exclusive leasing agent for a portfolio comprising four industrial properties located across Passaic, Bergen and Middlesex counties. The brokers in charge are executive vice presidents William Waxman and Mindy Lissner, Senior Associate Kevin Dudley, First Vice President Steven Beyda, Vice President Robert Pine, Senior Associate David Gheriani and Associate Kyle Saviano.
Two out of four properties are located in Totowa. The first one is 12 Vreeland Ave., a 144,340-square-foot industrial building that also includes 26,026 square feet of office space. Built in 1980 and sitting on an 8.5-acre parcel, it features 283 parking spaces and full air conditioning. It is located in the vicinity of Christopher Columbus Highway and New Jersey transit. The other property, a 150,000-square-foot built-to-suit facility is named The Corner of Minnisink and Vreeland. Amenities include 26-foot ceiling heights, extreme power ability and ample car and truck parking space. It offers easy access to New York ports and the New Jersey Turnpike.
Situated in Bergen County’s Mahwah, 440 Franklin Turnpike features 108,000 square feet of flex space, new loading docks, 36-foot ceilings and 270 parking spaces, Yardi Matrix data shows. It also has immediate access to and from Route 17, as well as interstates 287 and 87. It faces Franklin Turnpike, which has a daily traffic count of over 20,000 cars. The last structure is located at 100 Crows Mill Road in the Keasbey township, it encompasses 133,032 square feet and sits on a 6.9-acre fenced lot. It was built in 1971 and offers 22 parking spaces. The building is minutes away from New Jersey Turnpike, Route 440 and the Garden State Parkway.
“We’re continuing to see record-setting demand, coupled with a relatively limited supply, in New Jersey’s industrial market for quality space with convenient transportation and port access,” Waxman said in a prepared statement. “Each of these properties are well-located and offer prospective users a unique opportunity to enhance their logistics and distribution operations in New Jersey,” he further added. In another recent deal, CBRE inked 450,000 square feet of leases in the area.
Images courtesy of Yardi Matrix