120 Peddie St. in Newark — Courtesy: Bussel Realty Corp.
By Joshua Burd
Bussel Realty Corp. has completed a sublease of 4.2 acres in Newark’s port district to a third-party logistics firm that will use the site for trailer parking.
In a news release Tuesday, the brokerage firm said it represented JAAP Trucking in the transaction at 120 Peddie St. The sublease spans eight years, providing the logistics firm with immediate access to Interstate 78, Route 1&9, the New Jersey Turnpike, Port Newark-Elizabeth and Newark Liberty International Airport.
“After running an exhaustive search, and with the tenant’s current lease expiring in the very near term, we are pleased to have been able to secure this optimal location just in time for their port-driven business to continue to grow and thrive in our post-COVID e-commerce-dominated consumer economy,” said Jordan Metz, a senior vice president with BRC. “JAAP Trucking will utilize the trailer parking site for its freight shipping and trucking company for freight hauling to clients in the New York City metro markets.”
The sublandlord, Community Corrections Corp., was represented in-house.
