Industrial

Tratt Properties is building a 1.3 million-square-foot class-A industrial facility in an opportunity zone.

"The US economy will not be able to escape the fallout from COVID-19."

The renewals at the property located at 19-21-25 Main St. in Hackensack included The Knee Law Firm for 2,600 square feet, Potenza & Curtis Law for 1,350 square feet, Cowen & Jacobs for 1,250 square feet, and Robert M. Biagiotti Law for 1,000 square feet.

The Myers Container Industrial Building totals 181,262 square feet on approximately 15 acres and was recently purchased for $11.2 million by a JV of Specht Company and owner/operators of Myers Container.

Jay Hennick, Global chairman and CEO of Colliers International, says, "The transaction establishes us as a major player in the engineering design and consulting sector in the U.S., providing us with another important engine for growth."

Zack, who has more than 20 years of property management experience, most recently served as a regional VP with CIM Group, L.P. since 2018.

There is an increased demand from retailers and wholesalers for industrial and logistics locations near residential density and growth, and an infill location will capture last-mile demand in the Northwest submarket.

JLL represented the seller in the acquisition of the fully-leased, two-building, 923,400-square-foot portfolio, along I-95.