An aerial view showing the site of what will become 5 Ethel Blvd., a 194,000-square-foot industrial building on the border of Carlstadt and Wood-Ridge — Courtesy: Duke Realty
By Joshua Burd
Duke Realty Corp. has preleased two-thirds of a new warehouse in Wood-Ridge, inking a nearly 125,000-square-foot lease with a specialty food distributor.
The real estate investment trust on Monday announced the lease with GraceKennedy Foods LLC, the first tenant to commit to the project at 5 Ethel Blvd. The distributor of Caribbean, Central American and South American food products will anchor the 193,888-square-foot property, which is slated for delivery in early 2019.
“We are pleased with GraceKennedy’s early commitment to lease space in our newest industrial building in New Jersey,” said Ben Rosen, vice president of leasing for Duke Realty in New Jersey. “In choosing 5 Ethel, GraceKennedy will be operating in one of the newest and most functional distribution facilities in the entire Meadowlands market, offering extraordinary accessibility to Manhattan and the rest of the New York metropolitan area.”
Rosen and colleague Caitlin English represented Duke alongside listing brokers Robert Kossar, David Knee, Christopher Hile and Brian Golden of JLL. Michael Schaible of Lee & Associates represented GraceKennedy, which will consolidate operations from other Meadowlands locations into 5 Ethel Blvd.
In announcing the lease, Duke touted features such as 36-foot clear heights, wide column spacing, 13 dock doors and ample car and trailing parking. The remaining 69,000-square-foot space at 5 Ethel Blvd. offers similar clear heights and features, also including 13 loading docks, 1 drive-in door, 32 trailer parking spaces and 58 car parking spaces.
