425 Gotham Pkwy. in Carlstadt — Courtesy: Colliers International
By Joshua Burd
A wholesale bread maker has recommitted to two adjacent properties in the Meadowlands, where it leases nearly 170,000 square feet from separate landlords.
Colliers International recently announced the renewals by Tribeca Oven Inc. after representing the company at 425 and 447 Gotham Pkwy. in Carlstadt. The properties house the artisan bread company’s distribution and bakery operations, respectively.
Colliers’ John Donnelly co-brokered the long-term, full-building renewals with JLL’s Jeff Miller, who represents Tribeca Oven’s parent company, C.H. Guenther & Son Inc., on a national basis.
“Tribeca Oven maintains a modern bakery operation with sophisticated infrastructure at its Carlstadt operation,” said Donnelly, who is based in Colliers’ Parsippany office. “The level of investment in this manufacturing space and the efficiency of having a seamless distribution operation right next door, connected by a tunnel, made renewing in place the logical choice.”
Institutional investors advised by J.P. Morgan Asset Management own the 115,000-square-foot 425 Gotham Pkwy., while Prologis owns the 53,000-square-foot adjacent building, Colliers said in a news release. Prologis Vice President and Leasing Officer Paul Rosen and Senior Leasing Manager Jason Tenenbaum represented ownership at 447 Gotham, while Brian Golden of JLL served as the landlord representative for both properties
Founded as a fresh bakery in New York City in 1988, Tribeca Oven transitioned to a frozen par-baked, wholesale-focused model when it moved to Carlstadt in 2004, the news release said.