Allendale, N.J. (June 6, 2022) – NAI James E. Hanson, the largest New Jersey-based full-service independent commercial real estate firm, announces it has negotiated a lease for 17,500 square feet of industrial/flex space at 5 Pearl Court with Fuller Ingredients and a lease for 9,500 square feet of industrial/flex space at 3 Pearl Court with Porcelanosa USA in Allendale, N.J. NAI James E. Hanson’s Kenneth Lundberg, SIOR, Patrick Lennon, and Lorenzo Lambiase, MBA, represented the landlord, in both transactions. Savills’ Slava Vaynberg represented Fuller Ingredients in its transaction at 5 Pearl Court and Noah Balanoff of Colliers represented Porcelanosa USA.
Located in the professionally managed and well-maintained Allendale Industrial Park, 5 Pearl Court is a 37,343-square-foot single story industrial/flex building and 3 Pearl Court is a 42,773-square-foot single-story industrial/flex building. Each building features individual units and dedicated loading directly off Route 17. Fuller Ingredients’ new space boasts two tailgates, 20’ ceiling height and 60 car parking while Porcelanosa USA’s space includes one tailgate, 20’ ceiling height, 480-volt electric service and a backup generator with transfer switch in place. The buildings are part of a seven building, 370,000-square-foot Allendale Industrial Park that is owned and managed by Camber Real Estate Partners and Advance Realty Investors.
Recognizing their unmatched expertise in finding stable tenants and track record of proven results in the northern N.J. industrial market, the owner tapped NAI James E. Hanson to market the space for lease with the hopes of capitalizing on the demand for high-end industrial space from tenants searching for long-term homes. Fuller Ingredients plans to use the property for their east coast operations and was attracted to the property by its high-quality condition and location within a corporate park setting. Porcelanosa USA intends to use its new space to house overflow storage for its retail locations on Route 17.
“The demand for quality industrial space in northern N.J. continues to grow as the limited pipeline of available spaces decreases by the day said Lundberg. “While the competitive market is ideal for landlords with properties like those within the Allendale Industrial Park, it is critical that they continue to take the time and effort to find the right tenants for their spaces. We’re thrilled to have found a great match between the needs of the landlord and these two tenants that will create a mutually beneficial relationship for years to come.”