433 Murray Hill Pkwy. in East Rutherford — Courtesy: Goodman Group
By Joshua Burd
A logistics firm has leased more than 100,000 square feet at an upgraded industrial building in East Rutherford, in a newly announced transaction by the Goodman Group.
The tenant, OmLog, will use the space at 433 Murray Hill Pkwy. to grow its U.S. presence and fulfill a recent increase in demand for its services. The company has signed a 10-year lease for the 100,031-square-foot property, which Goodman acquired last summer before launching exterior and interior renovations and installing new power systems.
“With the growing demand for our logistics services in the U.S., driven by the expansion of our international customers, we made the decision to partner with Goodman Group with a 10-year lease,” said Marco Palazzi, OmLog’s CEO. “The decision to work with Goodman was heavily based on our previous positive relationship in Asia. While OmLog has been outgrowing facilities year after year due to demand, Goodman has been a trusted partner in providing facilities that can handle our capacity in strategic locations within close proximity to our customer base.
“We are confident that our business requirements will continue to grow in this market.”
OmLog, which provides logistics for luxury fashion products, oversees national and international distribution for its customers, according to a news release. The newly dubbed Goodman Industrial Center Murray Hill will help the company grow in a location that is 18 miles from New York City and close to the region’s international airports.
Matthew Dudzinski and Dustin Weeks of Atlantic Real Estate Services represented ownership in the deal.
“With OmLog managing its customers’ complete supply chain and e-commerce solutions, it needs a facility that can back its promises of service to the customer in strategic locations,” said Anthony Rozic, CEO of Goodman North America. “Goodman Industrial Center Murray Hill is able to assist OmLog in reaching its goals of growing U.S. presence and providing efficient services. This is done through enhanced automation requirements and new power systems that are not an industry standard but a bonus of working with Goodman.
“We focus on achieving supply chain efficiencies for our customers and making sure the facility is tailored to the customer’s needs by making any improvements required to achieve their business goals.”
Rozic also touted the growth potential of OmLog and its peers, noting that apparel and retail sales in the U.S. are projected to be more than $138.7 billion by 2022.
“With the luxury online fashion market set to more than triple by 2025, we anticipate high demand from online marketplace platforms for high-quality fashion logistics providers like OmLog, calling for logistics facilities in the New Jersey market,” he said.
“Partnering with companies like OmLog across multiple international locations reflects our global capability and integrated customer service model. We are a strategic partner for brands dealing with last-mile logistics and warehouse automation that service New York City and currently have additional space available similar to OmLog’s facility.”