Newark, N.J. (May 24, 2017) – NAI James E. Hanson, a leading New Jersey-based full-service independent commercial real estate firm, announced it has arranged a sublease agreement for 119,268 square feet of warehouse space to Container Warehouse Group at 60 Lister Avenue in Newark, N.J. Container Warehouse Group will sublease the space from HelloFresh dba E-Grocery Services USA Inc. NAI Hanson’s Russell Verducci, Eric Demmers, Mike Walters, SIOR, Fernando Garip represented both HelloFresh dba E-Grocery Services USA Inc. and Container Warehouse Group, in the exclusive listing.
Container Warehouse Group is a third-party logistics company currently based in Linden, N.J. Their growth in the New York City metropolitan area has meant that they were seeking a Class-A industrial distribution facility nearby the port to ensure that they could quickly and efficiently distribute their products to their growing customer base. The lease at 60 Lister will allow them to continue their growth and relocate their existing distribution/warehouse space from Linden, N.J. to Newark.
60 Lister Avenue provides Container Warehouse Group with one of the most accessible locations in the state only minutes from Port Newark and Newark Airport at the intersection of the Garden State Turnpike and Interstate 78 with access to the Garden State Parkway. A 352,000-square-foot building in the East Ferry section of Newark, the property boasts 28 trailer spaces, 62 parking spaces and 24 loading docks doors with 35’x50’ column spacing and 36’ ceilings.
“With the project to raise the Bayonne Bridge nearing completion, we anticipate seeing more deals of this type as companies look for quality space accessible via land and sea to house their distribution facilities,” said Verducci. “This high demand and limited supply in the market for buildings of this caliber means that we have seen a dramatic rise in the asking prices for port-related properties. With this in mind, we were able to negotiate a deal for this property that was mutually beneficial for both parties.”
“Newark continues to attract companies that are bringing with them economic growth and considerable job opportunities,” added Demmers. “Companies are seeking the unique accessibility by land, sea and air available in Newark and are finding the property prices competitive compared to pricier areas around New York City that do not offer the same accessibility as Newark. This trend shows no sign of abating and is attributing to the continued resurgence of Newark as a commercial hub in New Jersey.”
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About NAI James E. Hanson
Since 1955, NAI James E. Hanson has been a leading independent full-service brokerage commercial real estate and property management firm serving a diverse client list. NAI Hanson offers its clients strategic solutions and provides comprehensive value-added services such as office, industrial and retail brokerage, investment sales, land sales, management, government services and financing expertise.
NAI Hanson is also one of the original members of NAI Global, an international commercial real estate network with 400 offices spanning the globe. For more information on NAI James E. Hanson, contact William C. Hanson, SIOR, at the company’s Hackensack office at 201-488-5800 or visit www.naihanson.com.
