720 South Front St. in Elizabeth — Courtesy: The Blau & Berg Co.
By Joshua Burd
The Blau & Berg Co. has been named the exclusive agent for the sale of a 400,000-square-foot warehouse complex in the ever-tightening Elizabeth submarket, the firm announced Tuesday.
The firm said the former Cory Warehouse, located at 720 South Front St., offers proximity to Port Newark-Elizabeth, Newark Liberty International Airport, the New Jersey Turnpike and the surrounding major highways and crossings. It consists of three facilities on 13 acres: a 318,651-square-foot building with 70 docks, a 13,051-square-foot maintenance garage with eight drive-in bays and an 81,834-square-foot three-story facility.
Blau & Berg, which is based in Short Hills, added that the site “offers redevelopment potential.”
Jason M. Crimmins, Alex Conte and Peter J. Murano are the procuring brokers.
“New Jersey’s port region, with its (3 percent) vacancy rate, is a prime area for industrial distribution facilities catering to the area’s transportation hubs and its demographics,” said Crimmins, president of The Blau & Berg Co. “Directly off Interchange 13 of the NJ Turnpike, this property offers a tremendous opportunity for an intermodal, airfreight, 3PL or an e-commerce startup operator. It is also an exceptional value-add investment opportunity.”