449 Doremus Ave. in Newark — Courtesy: The Blau & Berg Co.
By Joshua Burd
The owners of a seven-acre industrial parcel in Newark’s port district have picked The Blau & Berg Co. to spearhead its leasing campaign at the site.
According to the brokerage team, the property at 449 Doremus Ave. includes a 30,000-square-foot maintenance and warehouse facility with 40-foot clearance and a 35-ton and five-ton crane. Devli Real Estate and Deugen Investment Group also plan to update it with new paving and lighting as they look to capitalize on a location less than a mile from Port Newark-Elizabeth, Newark Liberty International Airport and the New Jersey Turnpike.
Blau and Berg’s Jason Crimmins, Alessandro (Alex) Conte and Peter Murano are representing ownership in the new assignment, which comes a month after the joint venture announced its acquisition of the parcel.
“We feel our pedigree in this important sector of the industrial supply chain market is second to none and are pleased that Devli and Deugen selected us to represented them on the leasing side,” said Crimmins, Blau & Berg’s president. “Seven acres near the Port of Newark with a comprehensive repositioning plan should draw significant demand and we are thrilled to be a part of this exciting project.”
In a news release, the brokers noted that the former cogeneration power plant site has access to and from Avenue P along with its egress and ingress on Doremus Avenue. That’s likely to help Deugen and Devli capture their target market of industrial outdoor storage, trailer parking and warehouse users in a high-demand area with limited site options.
“Situated in one of the most sought-after locations for logistics in the Northeast, this acquisition marks a strategic move to acquire low coverage land sites that are vital to the countries overall logistic supply chain,” Devli said in a prepared statement.
Deugen, Devli partner to buy seven-acre industrial parcel in Newark
