Real Estate Journal — Northern New Jersey — December 14 -27, 2018 — 9B
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M id A tlantic
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Landlord is Heller Industrial Parks Metz of Bussel Realty leases 76,556 s/f in Linden & Kearny
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strong demand for last mile distribution near and around the Ports and NYC, where companies are heavily com- peting for coveted e-commerce distribution space.” Sitting on a 3.5-acre site, 2401 East Linden Ave. is an 83,220 s/f industrial property located near Route 1-9, the New Jersey Tpke. and the Goethals Bridge to Staten Is- land. It is also in close proxim- ity to Newark Liberty Airport, Port Newark/Elizabeth and New York City. The property features 10 loading docks, three drive-ins, 4,000 amps of
electric power, 21-foot ceiling heights and 74 parking spaces. Sitting on a 3.78-acre site, 1250 Newark Tpke. is a 50,246 s/f industrial property located near the New Jersey Tpke., Route 7, 9 and I-78. It is in close proximity to Jersey City, Downtown Newark, Newark Liberty Airport, Port Newark/ Elizabeth and the Holland Tunnel to Manhattan. The property features 17 loading docks, one drive-in, 200-800 amps of electric power, 20- foot ceiling heights, 20 trailer parking spaces and 50 free surface parking spaces.
INDEN & KEARNY, NJ — Bussel Realty Corp. (BRC) , a lead-
i ng i ndus - trial real es- tate services firm in New Jersey, today announc ed that Senior vi ce pres i - dent Jordan Metz leased
2401 East Linden Ave.
Jordan Metz
76,556 s/f of industrial space in two new leases in Kearny and Linden. Philadelphia Truck Lines leased 47,670 s/f at 2401 East Linden Ave. in Lin- den. Metz represented the landlord, Penwood Real Estate Investments , in the transaction. Jackson Cross Partners in Wayne, PA, rep- resented the tenant. Blossom Kitchen Bath Supply leased 28,886 s/f at 1250 Newark Tpke. in Kearny. Metz rep- resented both the landlord, Heller Industrial Parks , and the tenant in this trans- action. “Philadelphia Truck Lines was one of several bidders vying for the newly-renovated space at 2401 East Linden Ave., an asset I sold Penwood two years ago,” said Metz. “Having signed new long-term leases with the other two tenants in the building this year (both food companies), this new Philadelphia Truck Lines deal brings the asset to 100 percent stabilization. This is a textbook example of an investor acquiring a value- add asset in a choice location, infusing the necessary capital towards building upgrades and renovations, implement- ing a strong marketing plan, and leasing out the spaces to quality tenants paying historically high lease rates. I’m proud to have played an integral role in helping to facilitate this successful outcome.” Metz added, “Bl ossom Kitchen is in growth-mode and needed a larger ware- house to complement its cur- rent facility and showroom in Queens, New York. 1250 Newark Tpke. provided the strategic location proximate to the Ports, with immediate access to all major trans- portation arteries, enabling Blossom to service its custom- ers more efficiently. Both of these transactions attest to the market’s strength and
1250 Newark Turnpike
Lee & Associates New Jersey is Pleased to announce that Sheneeza Ali and Eric Heller have joined its team as Vice Presidents - Investment Sales/Redevelopment
Sheneeza Ali sheneeza.ali@lee-associates.com 201-988-1949 Mobile
Eric Heller eheller@lee-associates.com 908-256-6218 Mobile
669 River Dr., Suite 201, Elmwood Park, NJ 07407 110 Fieldcrest Ave., Suite 5, Edison, NJ 08817 O: 973.337.1144 F: 888.267.3446 www.lee-associates.com
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