1 Malcolm Ave. in Teterboro — Courtesy: JLL
By Joshua Burd
Hartz Mountain Industries has taken the wraps off more than 515,000 square feet of new industrial space in Teterboro, as it markets the property alongside brokers with JLL.
According to the leasing team, the building at 1 Malcolm Ave. is the largest block of modern logistics space in the Meadowlands submarket. It’s also the only available new space of more than 500,000 square feet, the developer said, offering a location just off Route 17 and direct access to the Interstate 95 corridor between Washington D.C. and Boston.
JLL vice chairmen David Knee and Leslie Lanne, Executive Managing Director Christopher Hile, senior managing directors Gary Politi and Seth Geldzahler and executive vice presidents Ignatius Armenia and Doug Rosenstein are spearheading the assignment.
“Teterboro Logistics Center presents a premier opportunity for supply chain excellence, and we are pleased to partner with JLL to introduce this state-of-the-art facility to the market,” said Gus Milano, Hartz Mountain Industries’ president and chief operating officer.
Spanning 515,421 square feet, the cross-docked facility has 40-foot clear ceiling heights and 83 dock doors, including four drive-ins, according to a news release. It also has 94 trailer stalls and 331 car parking spaces, along with eight inches of concrete slab flooring suitable for high-volume heavy loads.
JLL added that the property is available to full-building users and divisible to as small as 97,000 square feet, noting that tenants will be within the largest and most concentrated consumer corridor in the U.S and able to access some 50 million residents.
“As the only existing availability in the Meadowlands over 500,000 square feet, we anticipate strong demand for Teterboro Logistics Center,” Knee said. “Its unrivalled accessibility makes the Meadowlands among the most sought-after logistics locations in the country. Coupled with its modern and flexible design, Teterboro Logistics Center is one of the very best last-mile solutions in the market right now.”
Teterboro Logistics Center, which sits between Route 17 and Teterboro Airport, is minutes from routes 3 and 46, Interstate 80 and the New Jersey Turnpike, providing quick trips to Port Newark-Elizabeth and Newark Liberty International Airport.
