703 Bartley-Chester Road in Mount Olive — Courtesy: Cushman & Wakefield
By Joshua Burd
An e-commerce logistics firm has leased more than 570,000 square feet at a Mount Olive industrial building, where brokers continue to market nearly 850,000 square feet.
Cushman & Wakefield, the leasing agent at 703 Bartley-Chester Road, announced Friday that US Elogistics Service Corp. has committed to 570,777 square feet at the property. The company is the first new tenant to move into the 1.43 million-square-foot complex, a former Toys R Us distribution center that the retailer sold as part of its bankruptcy.
Jason Goldman, Charles Fern, Andrew Siemsen and Jason Barton of C&W’s Iselin office represented both the tenant and current ownership.
“The tenant is a global logistics fulfillment solutions company that has been in rapid expansion mode during the past few years,” Fern said. “The center offered them a rare combination of ‘plug-and-play’ features, including fully racked, 49-foot cubic storage capacities and over 100,000 pallet positions, as well as the opportunity to take occupancy as soon as the lease was fully signed.”
In a news release, C&W touted the site’s proximity to a vast labor pool, its freight rail access and its proximity to interstates 80, 287 and 78.
“After observing the evolution of the e-commerce sector, we decided that now was the right time to acquire another warehouse close to one of our headquarters in New Jersey, in order to respond better to the industry needs,” said Yuriy Gutkin, Elogistic’s director of real estate. “The new building will give us the chance to take on even more business and offer affordable storage and fulfillment solutions to our clients all over the world.”
C&W continues to market roughly 845,000 square feet at the 230-acre site, which represents one of the largest blocks of available modern warehouse space in the New Jersey and northern Pennsylvania markets, the news release said. The firm pointed to the property’s storage, parking and security offerings for companies looking to quickly expand their distribution and e-commerce capabilities and save millions in occupier improvement costs.