NAI James E. Hanson, a full-service commercial real estate firm, has announced it has arranged the lease of a 2.9-acre paved parking lot located at 575 Avenue P in Newark that is zoned for I-3 Heavy Industrial use and just .3 miles from the ports. Port Logistics Group agreed to the lease terms of Federal Business Centers, the property owner. NAI Hanson’s Barry Cohorsky, SIOR and James Kenah arranged the lease agreement on behalf of the land owner.
“As the nation’s leading gateway logistics provider, Port Logistics Group services and supports major retailers and retail manufacturers at all major U.S. port locations including the Port of Newark,” said Cohorsky. “With a 432,000 square-foot, fully automated cross-dock and trans-loading facility located at 442 Avenue P in Newark, Port Logistics Group was in need of additional trailer and container parking to meet the increased activity at the Port. We were able to find a solution to their parking needs to further enhance their drayage capabilities and efficiencies.”
The lot at 575 Avenue P is well lit and heavily fenced providing added security. Port Logistics Groups will utilize the lot for storage of port containers. The lots proximity to its Newark facility provides additional logistical efficiencies and resources.