David Nenner, CenterPoint’s senior vice president of asset management for the East Region, says users are still clamoring for strategically located space in the most competitive infill submarkets CenterPoint has targeted for the past decade.
“CenterPoint’s customers are determined to be near the densest population pockets and as close to port operations and critical regional interstates as they can get,” said Nenner. “Fortunately, we have compelling leasing opportunities that fit that bill,” he added.
One such building he points to is 896 Frelinghuysen Ave. in Newark, available Aug. 1. Cushman & Wakefield’s Larry Casey is representing CenterPoint to lease the 82,360-square-foot building. The 5-acre property offers users a strategic location minutes from Newark Airport, among various other high-value features, including a fenced and secured yard.
“Its configuration and door count are attributes that can be very appealing to a variety of users. Coupled with the site’s 42 doors, outstanding parking, and close proximity to Newark Airport, 896 Frelinghuysen will be a valuable part of most any supply chain,” Nenner said.
CenterPoint’s other rare leasing opportunity is nearby in Bayonne is also available Aug. 1. The 238,791-square-foot warehouse at 30-100 Pulaski St. was among the first acquisitions the Chicago-based industrial firm made when it expanded to the New Jersey market more than a decade ago. Nenner said the rationale to invest close to New York and New Jersey Port operations is just as sound today as it was then.
“This is a really solid distribution facility at the doorstep of the Global Terminal and close to Lower Manhattan via the Holland Tunnel.”
CenterPoint has made investments in parking-rich sites a focal point in its target markets nationwide, including New Jersey and New York City. The more than 10-acre Pulaski St. property can accommodate parking for more than 100 cars. The building also features 28 dock doors, including six internal doors, giving distribution users the ability to leverage it effectively for last-mile operations.
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