Newark, N.J. – NAI James E. Hanson, the largest New Jersey-based full-service independent commercial real estate firm, announces it has been named the exclusive leasing brokerage for Newark Distribution Center, a 716,158-square-foot industrial complex in Newark, N.J. The assignment will be handled by NAI James E. Hanson’s Russell Verducci, SIOR, and Eric Demmers.
Located in an Opportunity Zone less than three miles from Port Newark and one mile from the intersection of Route 1/9 and Interstate 95, Newark Distribution Center is a highly adaptable industrial facility geared to the needs of tenants with complex logistics, fulfillment or warehousing needs.
Newark Distribution Center is made up of three properties and the largest is 399-447 Ferry Street, a 635,482-square-foot building boasting 24’ clear ceilings and four loading docks with 48,000 square feet of space currently available for lease.
In addition to several highly adaptable buildings, Newark Distribution Center also benefits from institutional ownership by Hines, a global real estate investment, development and management firm with a presence in 395 cities in 30 countries and $95.79 billion of investment assets under management.
“Finding any industrial space in the Port Newark area is a tall task in the current competitive market conditions,” said Verducci. “Newark Distribution Center’s ideal location, institutional ownership and flexible design ensure it stands out in such a tight market. We are excited to bring this rare opportunity to the market and help our client secure a high-quality tenant for their space.”