79 Thomas McGovern Drive in Jersey City — Courtesy: CBRE
By Joshua Burd
A developer has landed a major tenant at its first New Jersey industrial project, inking a full-building lease in Jersey City with what it described as a global e-commerce company.
Brokers with CBRE announced Thursday that the undisclosed tenant has inked a long-term, 95,808-square-foot commitment at 79 Thomas McGovern Drive. CT Realty, which is based in Newport Beach, California, delivered the property last fall, touting its location just minutes outside New York City.
Recent market reports have identified Amazon as the tenant. The e-commerce giant also announced last month that had leased space at a building on Thomas McGovern Drive as one of 14 new delivery stations in New Jersey, which will serve the last mile of its fulfillment process.
“79 Thomas McGovern Drive presented the tenant with a truly unique opportunity to be located in a brand-new facility in this prime last-mile distribution area,” CBRE’s Thomas Monahan said Thursday. “Offering direct access to New York City via the Holland and Lincoln Tunnels and just a few minutes from the ports of Newark and Elizabeth, as well as Newark Liberty International Airport, the property is ideal for the tenant’s real estate and logistics needs.”
Monahan represented CT Realty alongside Stephen D’Amato, Larry Schiffenhaus, Anastasia Lazarides, Lauren Hageman, Gerard Monahan and Brian Fiumara.
“CT Realty is thrilled to land such a high-profile e-commerce tenant in our first development project in New Jersey,” said Rob Huthnance, a partner with CT Realty. “During these uncertain times in our industry, it was a pleasure to work with the CBRE team and we’re grateful that they were able to get this deal across the finish line.”
Sitting on five acres, 79 Thomas McGovern Drive offers 36-foot clear ceiling heights, eight dock doors, 87 car parking spaces and other modern features.
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