SPI Inks Lease at NJ Industrial Asset
- Feb 28, 2018
Amazing Vitamins has leased 25,190 square feet of manufacturing and distribution space at one of SPI Holdings’ assets in Carlstadt, N.J. NAI James E. Hanson’s Eric Demmers and Russ Verducci worked on behalf of the tenant to secure the lease. SPI acquired the 102,012-square-foot property in 2007 from Wilson Associates for $11.3 million, according to Yardi Matrix.
Located at 190 Jony Drive, the Class B asset in the Meadowlands submarket is situated in a heavily industrial district, containing hundreds of properties. Approximately eight miles from Manhattan, the area serves as a key distribution hub for the region. The building features 18- to 24-foot clear heights, 35,172 square feet of office space, two drive-in doors and six loading docks outfitted with levelers and bumpers, according to Yardi Matrix.
“2018 began in much the same way as 2017 ended in regard to industrial demand in the Meadowlands,” said Demmers, sales associate with NAI Hanson, in a prepared statement. “We have continued to see substantial demand across industrial property types and sizes as a wide range of tenants search for quality opportunities within the market, particularly in well-located towns like Carlstadt.”
Image courtesy of NAI James E. Hanson