CBRE Group Inc. Facilitates Three Industrial Transactions in Secaucus

On Mar 28, 2017

CBRE Group Inc. announced that its Global Port Logistics Group has completed three lease transactions at two separate industrial properties in Secaucus.

At 50 Meadowlands Parkway, Hartz Mountain Industries’ completely renovated warehouse property within Harmon Cove Industrial Park, CBRE represented VER, a provider of audio, video, lighting, rigging and media services, in the signing of a 223,000-square-foot lease.

VER, which currently occupies approximately 114,000 square feet in a different Hartz Mountain building, is nearly doubling its footprint to accommodate a significant amount of recent business growth. The company will operate an office and showroom at 50 Meadowlands Parkway, which features 30-foot ceilings, ESFR Sprinklers and ample parking.

The CBRE team that facilitated the transaction included William Waxman, Mike Shellow, Mindy Lissner, Kevin Dudley, Steven I. Beyda, Robert Pine, David Gheriani and Kyle Saviano.

“VER’s lease is reflective of both the desirability of 50 Meadowlands Parkway, as well as the importance of tenant-landlord relations,” Waxman said. “The property offered the rare combination of location and space that VER was seeking, and despite having a few years left on its existing lease, the company was able to expand into the building due to its excellent relationship with Hartz Mountain.”

At 1 County Road, the same CBRE team represented landlord Bhasin Properties in lease transactions with David Donahue and Jay Joshua Inc. David Donahue, a retailer of fine menswear, signed a 27,440-square-foot lease, while Jay Joshua Inc., an import business, signed on for 9,195 square feet.

David Donahue, which was represented by JLL in lease negotiations, will move its headquarters to the new space, which will house its warehousing and distribution operations. Jay Joshua Inc., which negotiated with CBRE directly, will use the space as both a company headquarters and product showroom.

Both tenants cited similar reasons for choosing 1 County Road, which is the only new construction project in Secaucus that provides the flexibility to divide space to almost any size from 4,700 to 123,470 square feet. The state-of-the-art development, which comprises two buildings, totals 242,120 square feet.

“Both tenants sought a facility with Class-A features, easy access to New York City, and a central location that’s convenient for their employees,” Waxman said. “Momentum is building quickly at 1 County Road, which is now 25-percent pre-leased, with several more transactions in the pipeline.”

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