Newport Distribution Services has occupied the asset, which is owned by Secaucus, NJ-based Hartz Mountain Industries, for more than 15 years. "Maintaining a tenant like that is as important as any lease in our portfolio," according to Hartz president and chief operating officer Emanuel Stern. Hartz's holdings, said to be the largest privately owned portfolio in the country, include more than 185 properties totaling over 35 million sf, mostly in Northern New Jersey and New York.
In re-signing for the space, Newport Distribution president Anthony Jankiewicz, cited the facility's access to the nearby port facilities and major roads, including the New Jersey turnpike, I-78 and Routes 1 and 9.
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