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JERSEY CITY-Elite Management Services Group Ltd. is signing a lease for 87,914 square feet at 111 Port Jersey Blvd., a 176,600-square-foot warehouse building here. Owned by Rreef Alternative Investments, the building is situated within the multi-million-square-foot Port Jersey Logistics Center.

Brokers from CB Richard Ellis represented both sides in the transaction. First VP Nick Nitti and SVP William Waxman spoke for the landlord, and vice president Matthew Corpuel represented the tenant. Terms were not disclosed, although availabilities in the adjacent 112 Port Jersey Blvd. are currently listed with an asking price of $5.25 per square foot. The Chicago-based Rreef bought both buildings adding up to more than 415,000 square feet in mid-2006 for an undisclosed price and currently owns more than two million square feet within the park.

The Brooklyn, NY-based Elite Management Services, which provides third-party fulfillment and back office operations, will use the space for those particular functions. The signing also involves a relocation for the company’s operations that had been situated in Edison, NJ, about 20 miles to the south.

“This new location provides Elite Management with critical access to labor,” Corpuel says. “It also provides access to the ports that they lacked in their Edison location, and to the New Jersey Turnpike. In addition, it is beneficial because of its convenience to EMS’ New York City office. EMS also took into consideration the option with the landlord to later expand its space at the site.”

Elite Management Services shares the single-story industrial building with Transport Freight Services, which uses its space as its headquarters.

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