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ELIZABETH, NJ–What started out as a 60,000-sf warehouse/distribution requirement for the xpedx division of International Paper grew to almost double that after the company nailed down a new service with Federal Express. In the end, xpedx took all of the 112,000-sf building located at 536-572 Dowd Ave. here, an industrial owned by Elberon Development Co.

The site selection process was led by and subsequent leasing deal arranged by senior vice presidents Thomas Ryan and Lee Eagles and vice president Steven Leitner of NAI James E. Hanson Inc., the real estate services company based in Hackensack, NJ. No details of the lease were released.

Some five months into what would become a nine-month site search, the requirement of 60,000 sf with proximity to Manhattan not only nearly doubled in size, according to Ryan, but also came with a requirement of occupancy within four months. The project also required building improvements within the same time frame, according to Ryan.

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