Both ACE and property owner 553-565 Dowd LLC were represented inthe transaction by Mark Tannen, first vice president in the SaddleBrook office of CB Richard Ellis. The owner is a private localgroup, and 545 Dowd Ave is part of a multi-building industrialpark. Terms of the signing were not released.

"Despite the uncertainty in the global markets, New Jersey'sindustrial market is still one of the strongest in the country,because of its proximity to an extensive consumer market, increasedactivity around the ports and the dense and supply-constrainedpopulation, Tannen says. "This was a significant leasetransaction."

ACE was founded two decades ago as an international freightforwarder and customs broker at the nearby Newark LibertyInternational Airport. The signing at 545 Dowd is a relocationwithin the market, and besides its location here, the companycurrently has operations in Chicago, New York, Miami, Houston andLos Angeles.