Breaking will be offline for scheduled maintenance Saturday May 8 3 AM US EST to 12 PM EST. We apologize for the inconvenience.


Thank you for sharing!

Your article was successfully shared with the contacts you provided.

(Read more on the industrial market.)

CARTERET, NJ-Specialty Products & Insulation Co. has signed a long-term lease for 72,654 sf of industrial space at 60 Minue St. here. The Lancaster, PA-based distributor of insulation and building products will be relocating its regional distribution and service center from the company’s current 50,000-sf space in Elizabeth, a move that reflects a nearly 50% expansion.

SPI was represented by managing director Barry Cohorsky of the Iselin office of Studley. The building’s owner, Carteret Building Six LLC was represented by Christopher Tichio of Alexander Summer. Terms were not released; the space had been listed with an asking price of $5.25 per sf.

“SPI wanted to continue participating in New Jersey’s urban enterprise zone program, which offers tax and regulatory incentives to businesses,” Cohorsky says. “While quality space is often limited within these areas, we were able to find a high-quality space located within a UEZ.”

“It is the most appropriate industrial property to meet our warehouse requirements,” says Ernie Iulianetti, general manager at SPI. “Our specifications were met, including proximity to the New Jersey Turnpike, which is invaluable in the distribution business.”

Built in 1988, the 172,000-sf 60 Minue St. is a half-mile from the Turnpike’s Exit 12 and provides visibility from the toll road. The signing brings the building, whose major tenant is the US Postal Service, to full occupancy.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt. NET LEASE Spring 2021Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information

GlobeSt. NET LEASE Awards 2021Event

These awards honor the industry's most influential and knowledgeable real estate executives from the net lease sector.

Get More Information


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join now!

  • Free unlimited access to's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including and

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.