JERSEY CITY, NJ—Standard Logistics relocated its headquarters, taking a long-term, 19,400-square-foot headquarters lease at 530 Duncan Ave. in Jersey City. A division of Evans Delivery Company, the third-party logistics firm relocated locally to the warehouse/distribution property in an expansion move.
“This is a growing company that operates on a great platform,” says Cushman & Wakefield’s Daniel Badenhausen. “It was time for a more robust facility, and 530 Duncan Ave. met Standard Logistics’ needs perfectly. The building is just down the road from its former headquarters, which made the transition seamless.”
Badenhausen and Andrew Stypa of Cushman & Wakefield’s Edison, NJ, office, represented Standard Logistics and property owner Engels Trucking in the transaction.
The building sits on 4.5 acres in the heart of New Jersey’s port submarket. It features a 36-door cross-dock terminal and ample accommodations for truck and trailer parking.
“This level of cross-dock functionality is lacking in the port, which really sets this property apart,” Badenhausen says. “As such, the offering drew significant interest. We had a half-dozen viable candidates for the space.”
According to Badenhausen, strong demand in the port submarket continues unabated. “The Port of NY/NJ is a major driver of the New Jersey industrial market, as is the region’s proximity to the largest population concentration in the country,” he says. “Companies in the third-party logistics, e-commerce, and food and beverage industries, especially, are eager to establish or grow their local footprints here, resulting in strong competition for quality properties like 530 Duncan Ave.”