Elizabeth Metropolitan Logistics Center at 865 Newark Ave. in Elizabeth — Courtesy: The Blau & Berg Co.
By Joshua Burd
Brookfield Properties has found its first tenant for a new industrial campus in Elizabeth, securing a full-building lease for nearly 104,000 square feet in the highly valued port submarket.
According to The Blau & Berg Co., which arranged the transaction, the undisclosed tenant will occupy Building 1 at the Elizabeth Metropolitan Logistics Center. The brokerage team noted that the 103,912-square-foot property, located at 865 Newark Ave., is minutes from key entry points to Manhattan, Newark Liberty International Airport, Port Newark-Elizabeth and the New Jersey Turnpike, boasting features such as 16 loading docks, a 40-foot clear ceiling height, abundant trailer stalls and electric vehicle charging stations.
Blau & Berg’s Jason Crimmins, Alessandro (Alex) Conte, Peter Murano Jr., Dylan Meade and Troy Schaafsma represented Brookfield alongside the in-house team of Senior Associate for Industrial Asset Management Kyle McGrady, Vice President for Investments Tyler Mordas, Head of Real Estate Management Keith Edwards and Investments Associate Sam Hart. The group continues to market Building 2, an adjacent facility with 196,087 square feet, to prospective tenants.
Brookfield developed the complex alongside Elberon Development Group and DH Property Holdings, revitalizing a 19.75-acre site just west of the airport.
“This transaction owes much of its success to the unrelenting tenacity and dawn-to-dusk commitment of the Brookfield team, whose partnership with DH Holdings and Elberon Development exemplified collaboration at its finest,” said Crimmins, Blau & Berg’s president. “We are thrilled to celebrate the lease execution for Building 1 at the Elizabeth Metropolitan Logistics Center, yet our work continues apace.”
Crimmins described the available second building as a “tantalizing opportunity” with its 37 docks, 40-foot clear ceiling heights and abundant trailer stalls, “particularly with leasing momentum increasing since the turn of the year.”
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