East Rutherford, N.J. (January 30, 2020) – NAI James E. Hanson announces it has negotiated a full building lease for 53,361 square feet of industrial space at 343 Murray Hill Parkway in East Rutherford, N.J. NAI James E. Hanson’s Kenneth Lundberg, SIOR, Patrick Lennon, Lorenzo Lambiase and Steve Pastor represented the landlord, 343 Murray Hill Parkway, Inc., in the transaction and Steve Elman of Cushman & Wakefield represented the tenant, Axis Global.
Founded in 1997 by veteran logistics professionals, Axis Global Logistics is a third-party logistics (3PL) provider with eight office locations and over 1,500 agents worldwide. The company provides clients across a broad array of industries and business sectors with deep expertise in supply chain management and the highest level of quality assurance. Axis’ industry-specific supply chain solutions are built on the knowledge of a powerful leadership team as well as industry-leading web-based technology that provides clients with flexibility and real-time visibility and control throughout the process. With their lease of 343 Murray Hill Parkway, Axis Global Logistics will be able to service their growing client base in the New York City metropolitan market from one of the most accessible industrial markets in New Jersey.
Professionally managed by NAI James E. Hanson’s Property Management Group, 343 Murray Hill Parkway is a 53,361-square-foot single-story industrial building located just next to door to Meadowlands Sports Complex in East Rutherford. Along with its strategic location in the heart of the Meadowlands, the building also boasts tremendous access to Routes 3 and 17 as well as the Garden State Parkway, New Jersey Turnpike, and Interstate 80. Additionally, major transportation arteries such as Port Newark/Elizabeth, Newark Liberty International Airport, and the George Washington Bridge lie only miles away from the property. In addition to a highly sought-after location, 343 Murray Hill Parkway’s 16’-21’ ceiling heights, eight tailgates, three drive-ins, and 35+ trailer parking spaces make it ideally suited to logistics tenants like Axis Global.
“It is no secret at this point that the Meadowlands industrial market is among the region’s most competitive,” said Lundberg. “For both landlords and tenants, that high level of competition can add significant complexity to deals adding delays and cost overruns that most businesses cannot afford to absorb. However, our experience and market knowledge are tremendous assets for both sides of any transaction and enable us to ensure deals of any complexity are efficiently brought across the finish line.”