400 Salt Meadow Road in Carteret — Courtesy: Crow Holdings Development
By Joshua Burd
Crow Holdings Development has lured another global logistics firm to its new industrial campus in Carteret, having signed a 146,000-square-foot lease with China-based YunExpress.
According to a news release Tuesday, the tenant will occupy 400 Salt Meadow Road as part of a regional expansion from an existing location in the Exit 8A submarket. It’s among the top third-party logistics companies in China, the announcement said, joining Weida Freight System Inc. and DSV Global Transport and Logistics at the three-building, 1.2 million-square-foot campus just off Exit 12 of the New Jersey Turnpike.
Savills’ Christopher Marx, Chris O’Connor, Steve Card, Chris Marx Jr., Taylor DeRisi and Peter Starr represented YunExpress in the deal. Cushman & Wakefield’s Jules Nissim, Stan Danzig and Kimberly Bach represented ownership as the property’s leasing team.
“Crow Holdings at Carteret’s unparalleled location and world-class, ready-for-occupancy distribution space hit all the marks for YunExpress,” said Clark Machemer, senior managing director with Crow Holdings Development. “We are pleased to welcome another tenant to this thoughtfully designed and executed campus, which is a great source of pride for both our team and the borough of Carteret.”
In announcing the deal, the developer noted that YunExpress provides cross-border business-to-consumer services for ecommerce sellers. The 11-year-old company also offers fulfillment by Amazon transfer, postal parcel and international express services.
Crow Holdings delivered the Carteret campus starting in summer 2023, having transformed 126 acres of previously contaminated land just 13 miles from Port Newark-Elizabeth. Cushman is now marketing the campus’ one remaining full-building space of 480,000 square feet at 500 Salt Meadow Road.
“The market continues to see a surge in 3PL deals, including an influx of Asian logistics providers working to build out their network capacity close to sea, air and land infrastructure,” Nissim said. “Crow Holdings at Carteret’s location in one of the nation’s most dynamic industrial corridors is a clear draw for this sector — and others.”
Crow Holdings unveils new three-building, 1.2 million sq. ft. industrial campus in Carteret
