130 Moonachie Ave. in Carlstadt — Courtesy: Meridian Capital Group
By Joshua Burd
The owner of a Meadowlands warehouse with major expansion potential is seeking a buyer for the property, in a newly announced offering by Meridian Capital Group.
The firm’s Meridian Investment Sales division has listed the nearly 64,000-square-foot building, 130 Moonachie Ave. in Carlstadt, describing it as an 87-door cross-dock freight terminal. The complex is fully occupied at rents substantially below market, presenting an opportunity to reposition a logistics property just eight miles from Manhattan.
According to the firm, the site’s maximum buildable area is 841,870 square feet.
Meridian Senior Executive Managing Director David Schechtman, managing directors Lipa Lieberman and Abie Kassin and Vice President David Benharouch are representing the seller.
“The property is in the Meadowlands district, which restricts the development of competing facilities,” Meridian wrote in its offering. “Given that new truck terminals are no longer permitted while demand continues to surge, buildings of this nature are able to command a significant rental premium, making this an exceptional opportunity for an investor or end-user in one of the nation’s most sought-after areas.
In a news release, Meridian noted that 130 Moonachie Ave. sits on some 7.7 acres, with tenants including Accurate Logistics, National Road Service, Greyhound Lines Inc., Treadway Tours and H.E. Acquisition LLC. The firm also noted that the Meadowlands district “has established itself as one of the country’s pre-eminent last-mile distribution centers” and is a top destination for data centers looking to establish a strong presence near New York City.