2B — June 2023 — New Jersey — M id A tlantic Real Estate Journal
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Property located on North Ave. East in Elizabeth, NJ Blau & Berg announces lease & sublease of ±54-door terminal
LIZABETH, NJ — The Blau & Berg Company , a commer- cial real estate brokerage firm in the New Jersey and Tri-State area since 1932, has brokered the lease of a ±31,000 s/f terminal on North Ave East, in Elizabeth. Jason Crimmins, CCIM, SIOR, Alessandro (Alex) Conte, CCIM, SIOR, Peter J. Murano, Jr., SIOR, and Michael Schipper, SIOR , of The Blau & Berg Company along with Kenneth Crim- mins, CCIM, SIOR , also with The Blau & Berg Company, E
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±31,000 s/f terminal on North Ave. East
co-brokered the lease. Blau & Berg originally leased the facility to ICT in April of 2022 and subsequently subleased it to Daylight Transport in May of 2023 at the same rate. The 54-door terminal sits adjacent to the southern portion of Newark Liberty International Airport and the Port of New- ark, less than a mile from the NJ Turnpike. “The appetite for terminal space a year ago was differ- ent than it is now,” said Jason Crimmins, president of The Blau & Berg Company. “In April of 2022, a 54-door facility like this located in the Port of Newark was a rarity. Now we are seeing tempered demand and a slight correction in lease rates. For us to secure a new tenant at the same rate as a year ago is a real testament to this terminal’s prominence in the area due to its acces- sibility, size, and location off of the heavyweight corridor and stone’s throw from the Elizabeth Port.” MAREJ
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