Picture by Chuttersnap, by way of Unsplash.
Third-party logistics firm CODA Logistics and Distribution has signed a preleasing settlement at CenterPoint Properties’ 321,765-square-foot industrial growth in Linden, N.J. The developer broke floor on the venture in November 2022, with completion anticipated in August 2023.
The Class A industrial venture might be positioned at 1501 W. Edgar Street and can embrace 40-foot clear heights, 62 loading doorways, 240 automobile parking spots and 89 trailer parking spots.
The corporate bought the almost 21-acre lot in 2021 for $31.5 million, based on CommercialEdge knowledge. The property is near interstates 278 and 95, inside 5 miles from Howland Hook Marine Terminal, 6 miles from Newark Liberty Worldwide Airport, 11 miles from Port Newark-Elizabeth.
KBC Advisors’ Accomplice Michael Kimmel negotiated on behalf of the tenant, which can use the property as a warehouse. Cushman & Wakefield’s Government Managing Director Stephen Elman, Vice Chairmen Jules Nissim and Stan Danzig labored on behalf of CenterPoint Properties.
Earlier this month, GXO Logistics signed a full-building lease at a 611,000-square-foot industrial warehouse in South Brunswick, N.J. KBC Advisors negotiated on behalf of the owner, Hyperlink Logistics, which bought the asset in 2019 as a part of an $18.7 billion portfolio acquisition. In December 2022, Brookfield Properties began development on Windsor 8 Logistics Middle in East Windsor, N.J. The 325,710-square-foot Class A industrial venture is located on a 28-acre web site, with easy accessibility to New York Metropolis and port of Newark-Elizabeth and is predicted to be accomplished in 2024.
