Real Estate Journal — New Jersey — December 12 - 18, 2014 — 11B


M id A tlantic

N orthern N ew J ersey Ferguson Plumbing will be first tenant to occupy newly renovated 50 Meadowland Parkway Hartz Mountain to move forward with design & entitlement for a 303,000 s/f whse./datacenter

ECAUCUS, NJ — Hartz Mountain Industries is moving forward with the design and entitlements of a 303,000 s/f warehouse and/or datacenter at 46 Meadowland Parkway, the remaining unde- veloped portion of the former Panasonic site that was razed earlier this year. This new building will be state of the art and will be built to accom- modate the needs of any user. The site is within Harmon Cove Industrial Park, the number one industrial location in the Meadowland’s Region/ North Jersey where Hartz owns more than 12 million s/f of industrial space plus some retail and flex space. “The hottest segments of the real estate market are warehouses and data stor- age facilities, and the best location for both of them is in Secaucus,” said Emanuel Stern , president and COO of Hartz Mountain Industries. “The Harmon Cove industrial vacancy rate is less than 3%, and we are confident that 46 Meadowland Parkway will lease prior to completion espe- cially due to its prime location, and the fact that New Jersey continues to draw datacenter facilities, e-commerce, food distribution and third party logistic firms.” Hartz is moving forward with this building in response to clear market drivers which include the State of New Jer- sey’s current incentive pro- grams, limited available class A stock and low supply of “Big Box” space. In addition, the building’s immediate access to the NJ Turnpike North/ South, Rte. 3 East/West and close proximity to the ports and New York City were key factors in the decision to move forward. “It will be a state of the art warehouse within minutes of New York city and perfect for companies looking to expand their e-commerce platform because they can store and ship their goods in an ideal location that allows them to easily meet their customers’ same-day delivery needs,” Stern said. “Datacenter oper- ators needing a large amount of space will also find it ap- pealing due to its proximity to NYC.” Hartz anticipates it will be finished with the design and entitlements in January 2015 and plans to start construction S

then with a completion date in fall 2015. The warehouse will be built with a 36’ clear ceiling height, 500 pounds per s/f floor load, 60’ x 55’ column spacing, 55 - 9’ by 10’ overhead doors with 35,000 pound pit levelers, ESFR sprinkler sys- tem, fluorescent T-5 lighting, 44 truck parking spaces, 460 car spaces, 15,000 s/f of office space, ample electrical capac- ity and many other features. “This is a pinnacle moment in Hartz history; just as my father constructed the origi- nal buildings that Panasonic occupied for 40 years, I am

now repositioning the site and building this high profile facility so that any tenant that occupies can remain here for years to come,” said Stern. As recently announced, Ferguson Plumbing will be the first tenant to occupy 450,000 s/f of the 650,000 s/f newly renovated warehouse at 50 Meadowland Parkway. Ferguson will be opening its facility in first quarter of 2015. Hartz is currently in discussion with several ware- house users for the remaining 220,000 s/f at 50 Meadowland Parkway. n

46 Meadowland Parkway rendering

Made with FlippingBook - Online magazine maker