September 2023

M id A tlantic Real Estate Journal — Owners, Developers & Managers — September 2023 — 11C

www.marej.com

O wners , D evelopers & M anagers

Prime industrial site takes shape at 1100 Randolph Road JWH Real Estate Holding Corp. breaks ground on ±102,393 s/f state-of-the-art whse., Franklin Twp. B ERGEN COUNTY, NJ — JWH Real Es- tate Holding Corp

ing environment, SBB Ship- ping was able to close ahead of time in a seamless effort with SBA/bank financing. Special thanks to David Komor of P&A Financial Services for his flawless work in managing the loan. SBB identified the value of the functional warehouse space at 264 Pegasus Avenue, which provides superb access to the Northern New Jersey and New York City regions. In spite of multiple interest rate hikes, the Metz Indus- trial Group was able to garner multiple competitive offers

and ultimately closed with an owner/user, who will utilize the building for their growing New York/New Jersey client demand. We wish SBB the best in their new facility and look forward to seeing their continued growth.” 246-248 Pegasus Ave. is a 37,000 s/f industrial property located near the New Jersey- New York border, Palisades Interstate Parkway and the George Washington Bridge. The property features 17-foot ceilings, 2 tailboards, heavy power, wet sprinklers, and 30- plus parking spaces. MAREJ

(JWH) recently broke ground on a ±102,393 s/f industrial facility at 1100 Randolph Rd. in Franklin Twp., which is expected to be completed by the second quarter of 2024. 1100 Randolph Rd. prom- ises to be a state-of-the-art warehouse incorporating the highest standards demanded by logistics, warehouse, e- commerce, cold-storage, man- ufacturing, and/or distribu- tion users. The facility boasts modern 36-foot clear heights, 15 dock doors, one drive-in, electrical vehicle (EV) charg- ing plans, advanced ESFR fire suppression, and expansive columns to ensure future ten- ants optimize their return on investment per cubic foot. “We are very excited to exclusively represent the opportunity to lease this ex- pansion space, particularly because 1100 Randolph Rd.’s exquisite architectural design is ultimately aimed at ensuring the success of its occupants,” said Anthony Rittwager , vice president of the Advance Industrial Group at Bussel Realty Corp. Situated on 21 acres, the property offers ±151 car park- ing spaces and additional trailer parking stalls beyond the 15 tailboards and 1 drive- in. Moreover, the facility will include ±3,900 s/f of modern corporate office space. Strategically located just two miles from I-287, 1100 Randolph Rd. enjoys close proximity to I-78, Exit 10 off the New Jersey Turn- pike, and Routes 202, 206, and 22. The location offers easy access to Port Newark/ Elizabeth, the largest U.S. port on the east coast, and Newark Liberty Airport, with convenient connections to Route 440 and the Outer- bridge Crossing, providing access to Staten Island, New York, and the New York City metro markets. In Northvale, The Metz Industrial Group of Bus- sel Realty Corp. (BRC) announced its sold 246-248 Pegasus Ave. in Northvale, New Jersey, a 37,000 s/f industrial building, to SBB Shipping for $7.6 million. Jordan Metz , senior vice president, and Benito Ab- bate , sales associate, of the Metz Industrial Group of

1100 Randolph Rd.

BRC represented the buyer and the seller in the transac- tion. David Komor , commer- cial loan consultant, of P&A

Financial Services handled the loan financing. Abbate noted that “despite an increasingly difficult lend -

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