Clifton, N.J. (May 7, 2019) – NAI James E. Hanson announces it has negotiated the sale of a 121,000-square-foot industrial building at 50 Somerset Place in Clifton, N.J. NAI James E. Hanson’s Scott K. Perkins, SIOR, Andrew Somple, SIOR, Christopher Todd, and Justin Allessio, represented the buyer, Shawnee Transportation, Inc., in the transaction with the seller, JRAM Investment Company, Inc.
Shawnee Transportation is a full-service transportation and logistics company that has worked with businesses across the United States for almost 30 years. With an explosion in demand for Shawnee’s distribution and fulfillment services, the company’s lack of short-term warehousing space, particularly in the New York City metro area, meant that the rapidly growing firm was being forced to turn down business. Shawnee retained the brokerage services of NAI James E. Hanson to help their company find a suitable warehouse in northern New Jersey that would meet their current and future space needs while also providing for parking of their large fleet of trucks.
NAI Hanson’s industrial team quickly targeted 50 Somerset Place as it was one of the few industrial properties on the market that aligned with Shawnee’s needs. Working with Shawnee’s senior management team, NAI Hanson was able to navigate one of the state’s most competitive industrial markets to negotiate a deal that met all of Shawnee’s requirements.
Featuring ideal proximity to Routes 3 and 46 as well as the Garden State Parkway, 50 Somerset Place provides Shawnee’s fleet with easy access to New York City and the entire East Coast. Additionally, the building’s 18’ clear ceilings, nine tailgates, and two drive-ins will facilitate increased operational efficiency for Shawnee. Additionally, the property’s over two-acres of parking provided ample space to fulfill Shawnee’s parking requirements.
Shawnee will initially occupy 60,000 square feet of the building and lease the remaining 60,000 square feet to capitalize on record-high industrial rents in the local market. Their ownership of the building also provides the company with greater optionality in the future should they hope to expand into the entire building.
“Finding suitable properties and negotiating industrial sales in northern New Jersey are difficult propositions no matter how large or small a buyer’s space needs may be,” said Allessio. “Shawnee’s unique requirements and the lack of product available on the market added another layer of complexity to our negotiations. Fortunately, our team’s deep experience in this market, particularly in industrial sales, provided us with the expertise and strategy needed to facilitate a sale on behalf of our client and help them secure their ideal property to ensure their company’s continued growth.”
50 Somerset Place currently has 60,000 square feet available for lease. For more information about leasing, please contact Scott Perkins, SIOR, at 201-478-7388, firstname.lastname@example.org.