4A — April 26 - May 9, 2019 — M id A tlantic

Real Estate Journal


M id A tlantic R eal E state J ournal Rosen of Duke Realty rep. landlord in the long-term lease Lee & Associates' Schaible ink Bergen County leases & sales E LMWOOD PARK, NJ — Michael Schaible , senior vice president

Prime Property for Lease in Bristol, PA

of commer- cial broker- age firm Lee & A s s o c i - ates NJ, has c o mp l e t e d the sale of a 72,000 s/f industrial of- fice building


5 Ethel Blvd.

• 32,120 square foot warehouse • 20’ clear height, 800 amp electric • 8 loading docks, and 2 (ea) 12’ x 14’ drive-in doors • Direct immediate access to I-95, 2 miles away from the PA Turnpike and a short drive to I-295

for Barings by Sitex. Schaible represented the tenant, Cubi- tac Corp, a growing wholesale importer and distributor of flat packed cabinetry that was looking to expand their distri- bution capabilities beyond the 100,000 s/f facility Schaible had arranged for them in 2016. In Wood-Ridge, Schaible inked a 125,000 s/f pre-lease at 5 Ethel Blvd., a state-of-the art industrial distribution prop- erty, representing specialty food distributor GraceKen- nedy Foods, the first tenant to commit to the new warehouse property. GraceKennedy will be consolidating operations from other Meadowlands loca- tions into the new building. Ben Rosen of Duke Realty represented the landlord in the long-term lease which rep- resents two-thirds of the new warehouse space. “In choosing 5 Ethel, GraceKennedy will be operating in one of the newest and most functional distribu- tion facilities in the entire Meadowlands market, offering extraordinary accessibility to Manhattan and the rest of the NY Metro area” said Rosen. The warehouse features 36-ft. ceilings, wide column spacing, 13 dock doors and ample car and trailer parking. Marketing of this transaction was man- aged by Chris Hile and Brian Golden of JLL on behalf of Duke Realty. Lee & Associates NJ an- nounced it negotiated the sale of a 72,000 s/f industrial/flex building at 100 W. Forest Ave., Englewood, for $16 mil- lion. Schaible represented the buyer, Sitex Group . Located in the heart of the Englewood South commercial market and less than two miles from the GW Bridge, 100 West. “We continue to see substan- tial demand across industrial property types as a wide va- riety of companies search for quality opportunities within the New Jersey marketplace, particularly in the Meadow- lands and well located towns that offer close proximity to New York City and its ports along with a deep labor pool” said Schaible. 

new, state-of-the-art distribu- tion facility, part of a two build- ing industrial development, located at 4 Bell Dr., Ridgefield. Cushman & Wakefield repre- sented the owner Metro Point LLC/Baring, a subsidiary of Mass Mutual. The transaction was developed as a forward sale

Michael Schaible

in Englewood and negotiated two industrial lease transac- tions totaling 236,000 s/f in Wood-Ridge and Ridgefield. Schaible negotiated a 7-year, 111,000 s/f lease at a brand

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