CBRE Lands Assignment for 416K Kearny Industrial Property
Precast walls are being erected at 50 Central Ave. which is scheduled for completion in the first quarter of 2020.
KEARNY, NJ—Seagis Property Group has appointed commercial brokerage firm CBRE as its exclusive leasing agent for its 415,533-square-foot industrial property currently under construction on Central Avenue here.
Precast walls are being erected at 50 Central Ave. which is scheduled for completion in the first quarter of 2020.
The CBRE team of Thomas Monahan, Stephen D’Amato, Larry Schiffenhaus, Anastasia Lazarides, Lauren Griffith and Gerard Monahan will spearhead the leasing and marketing campaign on behalf of the developer Seagis Property Group, which is headquartered in Conshohocken, PA.
“Seagis is one of the most respected owners of industrial real estate in the market with over 11 million sq. ft. of space, and a significant position in the New Jersey and New York City region,” says Monahan, vice chairman, CBRE. “We look forward to working closely with the Seagis team to market this new 40’ clear cross-docked warehouse facility in North Jersey.”
The property boasts a 40-foot clear ceiling height, 88 dock doors, four drive-in doors, 261 car parking stalls, 150 trailer parking stalls, ESFR sprinklers and secured parking.
The site is located 2.2 miles from Exit 15E of the New Jersey Turnpike and minutes to Ports Newark/Elizabeth and Newark Liberty International Airport. The industrial facility provides access to New York City via the Holland and Lincoln Tunnels.
Back in June, Seagis Property Group announced it had acquired four Northern New Jersey warehouses since the start of 2019. The fully leased properties were acquired in separate transactions and included 100 Frontage Road in Newark (180,000 square feet), 400 County Ave. in Secaucus (45,000 square feet), 27 Engelhard Ave. (26,000 square feet) in Avenel, and 360 Allwood Road (23,000 square feet) in Clifton. Seagis at the time stated it owned 32 buildings totaling 4.7 million square feet throughout Northern New Jersey.
Seagis Property Group owns and operates approximately 11 million square feet of industrial buildings in logistically driven locations along the Eastern Seaboard.