12B — December 18 - January 14, 2020 — Northern New Jersey — M id A tlantic Real Estate Journal
www.marej.com
N orthern NJ
Oxford Property Group USA reps. High May, Inc NAI Hanson negotiates lease of 110,000 s/f industrial building
Sudler secures four leases totaling 225,600 s/f
N
ORTH BERGEN, NJ — NAI James E. Hanson has negoti-
ated a lease for 110,000 s/f of industrial space at 7300 West Side Ave. in North Bergen. NAI James E. Hanson’s Scott Perkins, SIOR, Tom Vetter, SIOR, Jeff DeMagistris, SIOR and Chris Todd repre- sented the landlord, Link Logis- tics Real Estate (Link Logistics) in the transaction. Wenying “Linda” Tan of Oxford Prop - erty Group USA represented the tenant, High May, Inc. After NAI James E. Han- son’s Perkins, James and Todd successfully negotiated the sale of 7300 West Side Ave. in October 2019, they were joined by their colleagues Vetterand DeMagistris as the new ex- clusive leasing brokers for the property. Shortly thereafter, the NAI Hanson brokerage team secured prospective ten- ant High May, Inc., who will use the space for e-commerce warehousing and distribution. Situated less than ten miles from Midtown Manhattan, 7300 West Side Ave. features easy access to both the George Washington Bridge and Hol- land Tunnel as well as I-78, 80, and 95 and Rtes. 3, 4, and 46. Originally containing 130,000 s/f of industrial and office space, Link Logistics plans to remove 20,000 s/f of the 30,000 s/f mezzanine office space to create more 24’ ceilings throughout the building and keep its footprint at 100,000 s/f of dedicated industrial space. Further strengthening its in- dustrial features, the property also boasts 19 tailgates and ample car parking, as well as a supreme location coupled with ideal flexibility. WESTWOOD, NJ — NAI James E. Hanson has negotiat- ed a long-term lease renewal for an 11,360 s/f industrial build- ing located at 12 Sullivan St. in Westwood. NAI James E. Han- son’s Andrew Somple, SIOR , and John Schilp represented the landlord, 12 Sullivan Street LLC, and the tenant, Laguna 2 LLC in the transaction. Schilp and Somple were also hired by 12 Sullivan Street LLC to mar- ket the property for sale as an investment opportunity. With a strategic location in Bergen County, 12 Sullivan St. boasts proximity to major transportation arteries includ- ing the Garden State Parkway, Palisades Interstate Pkwy., Rtes. 17 and 4, and is thirteen
7300 West Side Ave. in North Bergen
825 Towbin Ave.
LAKEWOOD, NJ — Sudler Companies has leased all four spec buildings totaling 225,600 s/f at its Corporate Park Lake- wood prior to their completion, bringing the Lakewood portfo- lio to 100% occupancy. The last of those four buildings is an 80,000 s/f build-to-suit. Sudler Companies, founded more than 110 years ago, owns and operates three additional regional logistics/warehouse parks in New Jersey and a portfolio of properties in other states of over 7,000,000 s/f which are also running at near record occupancy levels. In addition, Sudler presently has under development large indus- trial parks in South Carolina and Florida. “We have responded to the unprecedented demand for well-located industrial real estate by ramping up our de- velopment, construction and leasing activities despite the complications of COVID-19,” says Peter D. Sudler, Chairman and CEO of Sudler Companies. “As demand is increasing, we are capitalizing on opportuni- ties to update and expand our positions on those sites – and with our large land bank we are able to respond rapidly to growth requirements.” Among the recent transac- tions, the largest property at 1719 Oak St. in Lakewood to- tals 74,400 s/f for a light manu- facturing user. The new 825 Towbin Ave. location features 40,000 s/f for Fullfilltrite, an e-commerce distribution driven business nearly doubling its capacity. The third and fourth properties were leased to long- time Sudler tenant, a phar- maceutical enterprise, soon to occupy a state-of-the-art 31,200 square foot lab and logistics facility at 1220 Paco Way and a build-to-suit 80,000 s/f build- ing at 1215 Paco Way that will break ground in December. “We have confidence in the market, so we are eager to build out sites in advance,” said Bri- an Sudler , principal of Sudler
Companies. “Users typically don’t want to wait for the 2-3 years it takes to develop a new location, so having ready-to- build sites is enormously ben- eficial. Often, as in Lakewood, our existing tenants are the first to respond when we can help upgrade or expand their businesses because of our long history with them.” Located on Rte. 70 with di- rect interchange access to the Parkway for employees, and to the Tpke. and Rtes. 1 and 9 for commercial traffic, Corporate Park Lakewood has been a staple of the Sudler New Jer- sey portfolio for more than 45 years. The strategic location in Central New Jersey is ide- ally situated between the New York, Philadelphia, and Atlan- tic City markets and provides a wide range of advantages for Sudler tenants. “Our Lakewood locations have supported some of our tenants for more than 20 years and to have them expand into new facilities with leases that run into the next generation re- affirms our vision for the Park and our culture of service to our tenants,” said Sudler. Sudler has focused on Lake- wood because it is specifically geared towards commercial and industrial real estate – largely e-commerce, pharma and ware- house operations businesses. It is the second largest industrial park in the state and Sudler is the largest property owner in the complex. There are over 35 buildings within the Sudler Portfolio that capitalize on this strategic location. Blau and Berg’s Michael Shipper was broker for the 1719 Oak St. transaction and Mike Maroon of the Acclaim Group represented 1220 and 1215 Paco Way leases. “Sudler has enjoyed strong relation- ships with the brokerage com- munity and was pleased to work with our consistent bro- kerage partners on these trans- actions,” said Jeffrey Hale , director of leasing. MAREJ
12 Sullivan St. in Westwood
65 South St. in New Providence
miles from both the Governor Mario M. Cuomo Bridge and the George Washington Bridge. The 11,360 s/f building features 2,060 s/f of dedicated office space, 19’ ceilings and two tail- gates that help Laguna 2 LLC streamline the warehousing and transportation of electron- ics to its extensive customer base. “Demand for industrial prop- erties of all sizes remains high, especially for those located in the Bergen County market due to its strategic location and tremendous accessibility to the Greater New York City area,” said Somple. “We were pleased to work collaboratively with both the landlord and tenant to negotiate a deal that was mutually beneficial for both parties and allowed the tenant to continue to operate seam- lessly out of this space.” Schilp added, “With the com- pletion of a long-term lease renewal stabilizing this asset, coupled with the property’s strategic location and the ever- rising demand for industrial space, 12 Sullivan Street is a highly attractive investment
opportunity and we are confi- dent that many buyers will be looking to capitalize on a red hot market. We look forward to leveraging our local market knowledge and industry exper- tise to market this property and secure a buyer on behalf of our client.” NEW PROVIDENCE, NJ — NAI James E. Hanson has negotiated a lease for 3,400 s/f of office space located at 65 South St. in New Providence. NAI James E. Hanson’s An- drewKirshenbaum and Tom Ryan represented the landlord, Seyfo Hawi Realty, LLC , in the transaction with the tenant, Terrana Orthodontics. Terrana Orthodontics will be occupying the building’s entire second floor to house its new medical practice while Provident Bank will continue to occupy the first floor. “Truly understanding each buildings’ value proposition and crafting tailor-made mar- keting strategies to attract top tenants is the hallmark of our team’s work throughout northern New Jersey,” said Kirshenbaum. MAREJ
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