S hopping C enters N ew J ersey
M id A tlantic Real Estate Journal — New Jersey — Section B
Support from NJEDA and ConnectOne Bank Shawnee Trucking Company Expands its Transportation and Logistics Hub
lifton, NJ — Rep- resentatives from the New Jersey Econom- ic Development Authority (NJEDA) and ConnectOne Bank joined Clifton Mayor James Anzaldi to visit Shawnee Trucking Company in Clifton to raise awareness of resources available to small businesses throughout the state. The visit also highlighted the key role small businesses like Shawnee Trucking Company play in the growth of New Jersey’s trans- portation and logistics sector. “The transportation and logistics sector is a major C HI-LIGHTS February 14 - 27, 2020
company that provides truck- ing and delivery services be- tween Virginia and Maine. It also serves the remainder of the country through broker contracts and contractors. Late last year, Shawnee Trucking Company used fund- ing from the NJEDA’s Premier Lender Program to purchase a six-acre property in Clifton that will serve as its national headquarters. The property in- cludes a 121,000 s/f warehouse, 4,000 s/f of office space, and a two-acre parking lot. Financing from an $11.52 million Con- nectOne Bank loan, including a $2 million NJEDA participa- tion supported the purchase. “We chose to base our op- erations in the Garden State because of its strategic location at the center of the Northeast Corridor, its proximity and easy access to ports through- out the region, its first-rate infrastructure and its dynamic
Located in close proximity to downtown Florham Park and Livingston, 12 Vreeland Road is convenient to major road- ways, including Rte. 24, Rte. 10, I-287 and I-80, minutes from the Morristown Airport and 20 miles from Newark Liberty International Airport. In other news, Cushman & Wakefield has been named leasing agent for 21 South St., a boutique class A office prop- erty in the heart of downtown Morristown. The Hampshire Companies recently pur- chased 21 South St., and this month has launched a renova- tion and two-story addition that will increase the building’s total size to 70,000 s/f. 21 South St. will be reintro- duced to the market as only the second new office building in Morristown in more than three decades. O’Keefe and Parmelli are heading the assignment to market availabilities ranging from 6,000 s/f to three full floors of 30,000+ s/f. Ceppi was among NJEDA representatives to visit Shaw- nee Trucking Company today. He was joined by NJEDA vice president of policy & com- munications Tai Cooper and business development officer Monika Athwal . One of Con- nectOne Bank’s managing di- rectors, Robert Murphy , also attended the visit with Ceppi, Mayor Anzaldi, Clifton City Manager Nick Villano and Allan Ryff , the city’s director of Economic Development. workforce within the state,” Shawnee Trucking Found- er Balram “Chris” Lall said. “We’re grateful that NJEDA and ConnectOne Bank sup- port has enabled us to grow our business and expand our customer base.” Mayor Anzaldi echoed Lall’s sentiments about New Jersey being the perfect place to grow a transportation and logistics business.
Representatives of the NJEDA and ConnectOne Bank joined Clifton Mayor James Anzaldi at the newly-expanded headquarters of Shawnee Trucking.
contributor to our economy, accounting for close to 200,000 private sector jobs and $23 bil- lion into the economy,” NJEDA managing director of Business Development Paul Ceppi said. “Under Governor Phil Murphy’s leadership, we’re working with our partners in
the industry to establish New Jersey as the nation’s pre-emi- nent transport technology hub. Small businesses up and down the supply chain play a pivotal role in making that happen.” Shawnee Trucking operates as a “one-stop,” full-service transportation and logistics
SPOTLIGHT Central NJ
Cushman &Wakefield announces tech-oriented tenant now occupies 56,530 s/f at 12 Vreeland Rd. easy access to commuter bus and rail lines.
Florham Park, NJ — Cushman & Wakefield an- nounced it has brokered an expanded sublease with a mul- tinational professional services and information technology company at 12 Vreeland Rd in Florham Park. The rapidly growing company, which sub- leased 26,556 s/f in the class A office property in June 2019, has taken an additional 29,974 s/f and now occupies the entire first floor (56,530 s/f). A Cushman & Wakefield team of William O’Keefe, Charles Parmelli and Kelsey Nakamura represented the sublandlord, Gerber Products Company (Nestlé), in the trans- action. The tenant was repre- sented by John Cunningham and FredHyatt with JLL . The KRE Group is the landlord of the two-story, 139,750 s/f asset, which was recently renovated. “This tech-oriented tenant quickly outgrew its initial sub- lease space in the building,” said O’Keefe. “The company continues to see tremendous value in the existing infra-
12 Vreeland Rd
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structure and configuration, which is essential to operating the business. The space is also fully furnished, which has al- lowed the tenant to be up and running quickly.” Cushman & Wakefield con- tinues to market the remaining 83,220 s/f on behalf of Nestlé, which previously occupied the entire building and has kept it well-maintained over the years.
“Space available for sublease includes the entire second floor, which is fully furnished, has a dedicated entrance and mul- tiple branding opportunities,” noted O’Keefe. Features include an above- marke t park ing rat i o o f 4.4/1,000 s/f and back-up gener- ator, loading dock. The property is also within walking distance of Lifetime Fitness and offers
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