The signing was arranged on behalf of the tenant by the Rutherford, NJ office of Newmark Real Estate of New Jersey, with managing principal William J. Cariste and principal Richard Madison doing the honors. Further details of the transaction were not disclosed.
"This transaction is representative of the continued strength of New Jersey's industrial market," according to Cariste.
The asset, which is owned by Frank A. Greek & Sons Inc. of East Brunswick, NJ as part of its larger holdings within the industrial park, is being fitted out with a new distribution system, according to Cariste. When fully operational, it will be capable of handling more than 20,000 packages a day.
© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more inforrmation visit Asset & Logo Licensing.
