500 Salt Meadow Road in Carteret — Courtesy: Crow Holdings Development
By Joshua Burd
Crow Holdings Development has secured a full-building, 480,000-square-foot lease in Carteret to bring a new 1.2 million-square-foot industrial campus to full occupancy.
The tenant, BroadRange Logistics, will occupy 500 Salt Meadow Road under the long-term deal announced Wednesday. It joins three other tenants at the three-building, 126-acre development just off the New Jersey Turnpike — where Crow Holdings has redeveloped a once-contaminated manufacturing site — allowing the flexible warehousing and third-party logistics firm to expand its national footprint to 21 locations and more than 13 million square feet.
Cushman & Wakefield’s Jules Nissim, Stan Danzig and Kimberly Bach represented ownership in the lease at Crow Holdings at Carteret. Russell Hofstetter of Atlanta-based Strategic Real Estate Partners and Stephen Shoemaker of CBRE represented BroadRange, which uses a model known as UltraFlex to allow customers to scale space up or down as needed, avoiding rigid lease terms and upfront capital while accessing ready-to-use warehouse infrastructure.
“The launch of our new Carteret location is a major step forward,” BroadRange CEO Ari Milstein said. “From this strategic hub, our customers can now access a market of 60 million people, one-third of the U.S. GDP, within a 250-mile radius or one-hour drive. And they can do it with the flexibility and scalability that defines our UltraFlex model.”
Crow Holdings announced the deal while noting that BroadRange was named the 163rd fastest-growing company in the U.S. by Inc. Magazine and the sixth-fastest-growing logistics firm nationwide. Founded in 2001, the company supports fast-moving sectors including solar, ecommerce, food and beverage, home goods, building materials and heavy equipment, according to a news release, with visions building a logistics network capable of same-day delivery to nearly every household in the U.S.
Its new facility in Carteret will be critical for sortation and last-mile delivery into one of the country’s densest and most valuable logistics markets, the firm said.
“BroadRange’s distinctive business model offers something new for the marketplace, and their continued expansion speaks to proof of concept,” said Clark Machemer, senior managing director with Crow Holdings Development. “This property’s world-class location has attracted a terrific group of corporate and third-party distribution operations, and our final addition is no exception.”
BroadRange joins YunExpress, Weida Freight System, Inc. and DSV Global Transport at Crow Holdings at Carteret, which is just 13 miles from Port Newark-Elizabeth. The campus has also won multiple industry honors, including New Jersey Business Magazine’s 2025 New Good Neighbor Award, United Way of Northern New Jersey’s Industrial Impact Award and “Top Projects” awards from NJBIZ and Mid Atlantic Real Estate Journal.
The leasing team continues to market a 161-space trailer lot opportunity on the campus.
“The Crow Holdings at Carteret lease-up reflects the continued strength of Class A industrial product in New Jersey, the benefit of partnering with a probusiness municipality, and, of course, the dealmaking talent of our Cushman & Wakefield leasing team and the co-brokers who have worked with us to reach this milestone,” Machemer added.
Crow Holdings lands third tenant in Carteret with 146,000 sq. ft. lease with 3PL firm
