869-871 Julia St. in Elizabeth — Courtesy: Bussel Realty Corp.
By Joshua Burd
Elberon Development Group has secured a tenant for a 1.6-acre industrial outdoor storage property in Elizabeth, in a transaction arranged by Bussel Realty Corp.
Brokers say the location, 869-871 Julia St., will support Northeastern Lumber Building Supply’s continued growth and operational needs within the northern New Jersey market. Central to that are the property’s 4,225-square-foot maintenance facility and its proximity to Port Newark-Elizabeth, Newark Liberty International Airport and the broader New York City metropolitan area, making it well suited for distribution, service, construction and logistics users.
BRC Principal Jordan Metz, Senior Associate Benito Abbate and Sales Associate James Friel represented the tenant in the transaction. Elberon represented itself in-house.
“Well-located industrial outdoor storage properties continue to be among the most durable and sought-after asset classes in today’s industrial market,” Metz said. “The highest demand continues to center around one- to three-acre IOS sites in core infill locations like the Port Newark/Elizabeth market.”
The firm noted that it worked closely with Northeastern Lumber Building Supply as it analyzed more than a dozen IOS opportunities across multiple northern New Jersey submarkets before identifying 869-871 Julia St. as the optimal long-term solution. Metz, whose relationship with the landlord goes back more than 20 years, also credited Elberon Vice President of Leasing and Acquisitions Terry Armstrong and President Dave Gibbons.
“Companies increasingly require these one- to two-acre sites across multiple markets to efficiently service broad geographic customer bases, making this size category exceptionally competitive and resilient,” Metz said. We have developed a distinct specialization in the industrial outdoor storage sector and our focused expertise enables us to consistently identify opportunities that others overlook.”
