40 Enterprise Ave. in Lawrence Township — Courtesy: Avison Young
By Joshua Burd
Alcamo Capital has landed a tenant for a newly developed warehouse in Lawrence Township, inking a lease for more than 150,000 square feet under a deal arranged by Avison Young.
Brokers announced Tuesday that CEVA Logistics will occupy more than half of the 261,646-square-foot building at 40 Enterprise Ave., where the landlord has revitalized what was a blighted brownfield site just east of Route 1. That location helped attract the transportation and global supply chain solutions firm, the leasing team said, as did the property’s 40-foot ceiling heights and a 30-year payment in lieu of taxes agreement that would yield cost savings.
Avison Young’s J.C. Giordano, Tim Cadigan, Matt Turse, John Gianis, Stephen Gianis and Judy Troiano represented Alcamo Capital in the 150,272-square-foot deal. Newmark’s Craig Engelhardt, Tom Carragher, Chris Carragher and Kyle Eaton represented CEVA Logistics.
“By engaging Avison Young to advise and execute the marketing of this newly developed building, we know we’ve not only delivered great value to our tenants, but also, providing a great place to work for the surrounding labor force,” said Anthony Basile, a principal with Alcamo Capital.
Avison Young is now focused on leasing the remaining unit of 111,374 square feet, which has 33 trailer parking stalls and 21 dock doors.
“This submarket is among the most competitive in the region in terms of attracting tenants, given the number of new construction buildings delivered and coming to the market, so securing CEVA Logistics was a priority for Alcamo Capital,” Giordano said. “Despite the market challenges upon initial delivery, we feel this lease represents a significant and positive outlook as leasing velocity in 2025 should continue to increase.”
