2013 McCarter Highway in Newark — Courtesy: Seagis Property Group
By Joshua Burd
Seagis Property Group has leased up a newly delivered warehouse facility along Route 21 in Newark after completing two deals totaling nearly 180,000 square feet.
According to the firm, which completed the project late last year, the building at 2013 McCarter Highway has 40-foot clear ceiling heights with 56 trailer parking spaces. That helped lure two undisclosed tenants to the 178,200-square-foot property, which benefits from its location along the six-lane highway that connects the Meadowlands to downtown Newark and its proximity to New Jersey Turnpike Exit 15W.
The building, which occupies the former site of a Schiffenhaus Packaging facility, is also nine miles from Port Newark-Elizabeth and 11 miles from Manhattan via the Lincoln Tunnel.
“This has been an extremely rewarding project for Seagis and the city of Newark in redeveloping an old, blighted manufacturing complex, into a brand new Class A warehouse building which is now fully leased creating jobs and economic activity for the city,” said Omer Mir Ahmed, chief development officer of Seagis Property Group.
Colliers’ Noah Balanoff, Jacquelyn Severino and Mark Hay represented ownership. CBRE’s Kevin Dudley, Nick Klacik, Chad Hillyer and Kate Granahan represented one of the tenants, while Cheryl Hardt, also of CBRE, along with Dudley, Klacik, Hillyer and Granahan represented the second user.
The McCarter Highway project is the company’s newest delivery in North Jersey and its second development in Newark within the last 12 months. The firm recently joined executives with United to mark the opening of a modern, 165,000-square foot cargo facility at Newark Liberty International Airport, which it leased to the airline under a deal that has been recognized by NAIOP New Jersey and the Urban Land Institute of Northern New Jersey.
United noted at the time that the property at 100 Frontage Road has increased its cargo availability to a net gain of more than 77,000 square feet in facility space and total cargo space at EWR to 319,000 square feet. It also gives the airline more opportunity to have a competitive cargo operation in the region amid its growth ambitions over the next 10 to 20 years, which includes flying more widebody aircraft at the Newark hub.
Seagis, meantime has started construction on another speculative warehouse project, at 200 Hollister Road in Teterboro, which will bring 167,000 square feet of new space to the thriving Meadowlands submarket.
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