Nippon Express, which has a regional office in Secaucus, will use the new location as a regional distribution hub, according to William Waxman, vice president of CB Richard Ellis, whose firm represented the tenant. The deal was orchestrated by Waxman and fellow CBRE brokers Nicholas Nitti, Carrie Brown, Toshiro Sato and Tsuyoshi Yamada. "We were able to partner our industrial expertise with the resources of our Japan desk," Waxman says.
Federal Business Centers was represented by an in-house team. Terms were not released, but asking rents at the site have been variously listed as "negotiable" and with an asking price of $5.50 per sf.
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