4B — October 2023 — New Jersey — M id A tlantic Real Estate Journal
www.marej.com
N ew J ersey
Cushman & Wakefield’s Nissim, Danzig and Bach negotiate lease Crow Holdings announces Weida Freight System commits to 188,000 s/f in Carteret
ARTERET, NJ — Crow Holdings De- velopment has announced Weida Freight System, Inc. (WFS) will become the first tenant at its new Crow Hold- ings at Carteret campus. The 188,000 s/f, long-term transac - tion at 400 Salt Meadow Rd. marks an expansion of the third-party logistics provider’s U.S. operations. Cushman & Wakefield’s Jules Nissim, Stan Danzig and Kimberly Bach nego- tiated the lease as leasing agents for Crow Holdings at Carteret; Avison Young’s C
Jimo Liu served as the tenant representative. Headquartered in Hong Kong with more than 35 of - fices worldwide, WFS selected the site for its proximity to the New Jersey Turnpike – Crow Holdings at Carteret sits just ½ mile from Exit 12 – and the property’s world-class design. 400 Salt Meadow Rd. will be WFS’s second New Jersey warehouse and its eighth na- tionwide. “We looked at properties throughout the region, and Crow Holdings at Carteret was the clear choice. It inspired us to make a commitment,” said WFS CEO Victor Wei. “This lo - cation checks every box for our stepped-up distribution needs in the New York metropolitan area, and the ease of access to the Turnpike can’t be beat.” At a time when the efficient movement of goods is criti - cal, the recently completed, 1.2 million-square-foot ware - house/distribution property at 300, 400 and 500 Salt Meadow Road offers a Greater Port submarket location convenient to sea and air transit, major thoroughfares as well as key NYC crossings. “Crow Holdings at Carteret provides the closest turnpike interchange access of any new industrial product built within the past 10 years, and this fac - tor alone is driving strong in - terest from a variety of users – inquiries have been increasing steadily this summer and into fall,” Nissim said. “Add to that its position just 13 miles from the Port Newark-Elizabeth Marine Terminal, a tuned-in developer and business-friend - ly municipality, and it truly is a distinctive opportunity.” Crow Holdings at Carteret is ready for occupancy and offers full-building opportuni- ties of 355,000 and 480,000 s/f, with availabilities start - ing at 150,000 s/f. Perfectly suited for a variety of uses, the property includes pre-built offices as well as 40-foot clear ceiling heights, a combined 299 trailer parking spots, 174 dock doors with fully equipped loading docks, and six drive- in ramps. A 30-year PILOT agreement enables long-term tax rate stability. Crow Holdings Development (CHD) is the development platform of Crow Holdings, a privately owned real estate in - vestment and development firm with 75 years of history. MAREJ
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