By Joshua Burd
A technology firm serving the global events industry has signed a new 46,000-square-foot industrial lease in Secaucus, in a newly announced deal by Newmark.
According to the brokerage team, Creative Technology Inc. is taking space at 60 Metro Way under a long-term commitment with Hartz Mountain Industries. The lease by the NEP Group subsidiary, which was represented by Newmark Vice Chairman David Simson and Managing Director Dan Reider, marks its first New Jersey location.
“With the closing of this transaction, we congratulate Creative Technology on their expansion into the New Jersey industrial market,” Simson said. “Integral to our approach was knowing the client’s need for a larger space to accommodate their rapidly growing business operations. Ultimately, 60 Metro Way presented a favorable solution, solidified by the property’s highly accessible location.”
Newmark noted that Creative Technology, one of the world’s largest technology services providers to events, joined NEP Group three years ago and has seen significant growth in its business. The new Secaucus outpost supports that growth, offering 38,000 square feet of warehouse space with an 8,000-square-foot office component, seven loading docks and one drive-in.
It comes as industrial leasing in northern New Jersey witnessed continued strength through the fourth quarter of 2022, according to Newmark. Net absorption, or the increase in occupied space, totaled nearly 3 million square feet in Q4, bringing the year-to-date total to 12.24 million square feet and vacancy in the submarket to 2.8 percent.
