NAI Hanson, Sitex Break Ground on 271 KSF NJ Warehouse

One Sharp Plaza will be a Class A facility located in the Stateline Business Park in Mahwah. Completion is planned for first-quarter 2018.
The groundbreaking ceremony for One Sharp Plaza in Mahwah, N.J.
The groundbreaking ceremony for One Sharp Plaza in Mahwah, N.J.

Project developer Sitex Group, NAI Hanson and township officials have broken ground on the construction of One Sharp Plaza, a 271,000-square-foot Class A industrial building in the Stateline Business Park in Mahwah, N.J. NAI Hanson is the exclusive listing agent for Bergen County’s newest industrial property.

Situated on some 21 acres, the warehouse will be less than one mile from the intersection of Route 17 and interstates 87 and 287, with direct access to New York City via the Tappan Zee and George Washington bridges. The building will feature 36-foot clear ceiling heights, 54- X 60-foot column spacing, 36 dock doors, ESFR sprinklers, two drive-ins, and parking for 25 trailers and 184 cars.

A hot market

Upon its completion in the first quarter of 2018, One Sharp Plaza will be the newest warehouse space of its size delivered to the Bergen County market. The industrial submarket has the second-highest asking rental rate in the Northern and Central New Jersey market. The vacancy rate continues to decline, down two percent from second-quarter 2016, to 5.7 percent as of second-quarter 2017.

“This project has been created with the needs of today’s distribution users in mind and presents a significant opportunity for the township of Mahwah to bring a leading e-commerce company to town. We look forward to helping to secure a tenant for the space and ensure that this project will be a valuable economic contributor for the township,” said NAI Hanson Senior Vice President Kenneth Lundberg, in a prepared statement.

Lundberg and Associate Patrick Lennon are the exclusive brokers for this assignment.

Image courtesy of NAI Hanson