Allendale Industrial Park in Allendale — Courtesy: NAI James E. Hanson
By Tina Traster
NAI James E. Hanson has negotiated two leases for a combined 27,000 square feet at an industrial flex complex in Allendale.
According to the brokerage team, the deals include a 17,500-square-foot commitment at 5 Pearl Court by Fuller Ingredients and a lease for 9,500 square feet at 3 Pearl Court with Porcelanosa USA. NAI Hanson’s Kenneth Lundberg, Patrick Lennon and Lorenzo Lambiase represented the landlord, Camber Real Estate Partners, in both transactions, while Savills’ Slava Vaynberg and Noah Balanoff of Colliers represented the respective tenants.
“The demand for quality industrial space in northern New Jersey continues to grow as the limited pipeline of available spaces decreases by the day,” Lundberg said. “While the competitive market is ideal for landlords with properties like those within the Allendale Industrial Park, it is critical that they continue to take the time and effort to find the right tenants for their spaces. We’re thrilled to have found a great match between the needs of the landlord and these two tenants that will create a mutually beneficial relationship for years to come.”
Located in the 370,000-square-foot Allendale Industrial Park, 5 Pearl Court is a 37,343-square-foot, single-story industrial flex building, while 3 Pearl Court spans 42,773 square feet. Each features individual units and dedicated loading directly off Route 17.
Fuller Ingredients’ space has two tailgates, 20-foot ceiling heights and 60 car spaces, while Porcelanosa USA’s space includes one tailgate, 20-foot ceiling heights, 480-volt electric service and a backup generator with transfer switch in place, according to a news release. Fuller plans to use the property for East Coast operations, while Porcelanosa intends to house overflow storage for its retail locations on Route 17.