Parsippany, N.J. (August 12, 2020) – NAI James E. Hanson announces it has negotiated a lease for 119,366 square feet of industrial space at 75 Lackawanna Place in Parsippany, N.J. NAI James E. Hanson’s Scott Perkins, SIOR, represented the owner, Bee DIC Realty, in the transaction with the tenant, Commercial Furniture Transport, who was represented by Howard Weinberg of JLL.
Commercial Furniture Transport is the region’s leader in office furniture installation and delivery, providing efficient and reliable service for businesses throughout New York, New Jersey, Pennsylvania, and Connecticut. With a large client base in New York City, the growing company sought out a large warehouse space that would allow them to continue to efficiently service the New York City market while also promising easy access to customers in New Jersey and Pennsylvania.
Situated in between Interstate 80 and Route 46, 75 Lackawanna Avenue provides the ideal balance between ease of access to New York City as well as to markets to the west and south. The building’s 200,000 square feet of adaptable industrial space ensures that it can accommodate for a wide variety of industrial users. In their search for space, Commercial Furniture Transport recognized that 75 Lackawanna Place’s location, along with the 24’ ceilings and 18 tailgates present throughout the 119,366-square-foot space provided the ideal home for their business.
“While the Morris County industrial market is one of the region’s smaller markets, it does present companies looking for centrally-located industrial space with an irresistible value proposition,” said Perkins, SIOR, NAI James E. Hanson and Regional Director for NAI Global Logistics. “Through a deep understanding of the benefits of the market and my 30 years of experience in the industrial field, I recognized the unique opportunity this space presented and was able to help my client capitalize on this market and secure a high-quality tenant.”
The transaction at 75 Lackawanna Avenue showcases how Perkins has grown to become one of the northeast’s most-trusted industrial brokers. He stands out as a result of his consistent ability to close industrial deals in the competitive and complex northern New Jersey market, even as the impacts of the COVID-19 pandemic continue to be felt. Through the first eight months of 2020, Perkins has closed over 500,000 square feet in transactions throughout the region headlined by the sale of 922 Riverview Drive in Totowa and the sale of 463 Barell Avenue in Carlstadt.
For more insights on this submarket and a deeper look at the northern New Jersey industrial market, please download NAI James E. Hanson’s Q2 2020 Northern and Central New Jersey Industrial Report, which highlights market trends and key data in the industrial asset class throughout the region.