300 Salt Meadow Road in Carteret — Courtesy: Crow Holdings Development
By Joshua Burd
Crow Holdings Development has landed a second tenant for its new 1.2 million-square-foot industrial park in Carteret, leasing 355,000 square feet to a global logistics firm.
The Denmark-based user, DSV Global Transport and Logistics, will serve a household-name client from its new location at 300 Salt Meadow Road, CHD said. It’s set to occupy the full building, with plans calling for the expansion of the existing office space and specialized fit-outs, including 100,000 square feet of cooler capacity.
Cushman & Wakefield’s Jules Nissim, Stan Danzig and Kimberly Bach represented ownership in the deal off Exit 12 of the New Jersey Turnpike. The real estate services firm’s Mindy Lissner represented DSV, which is the world’s third-largest transportation and logistics company and has more than 1,600 offices and logistics facilities.
“We are thrilled with the selection of this new facility in Carteret,” said DSV’s Josh Summers, president, Solutions North America. “This more than doubles our footprint in the region and allows us to draw on our already extensive capabilities there. Crow Holdings Development’s property is the ideal selection and one we believe demonstrates our commitment to our customers’ growth.”
With the DSV lease, Crow Holdings at Carteret is approaching the 50 percent occupancy mark, with continued active interest, according to a news release. Cushman is marketing one remaining full-building opportunity of 479,700 square feet, as well as a 146,400-square-foot, partial-building space at the campus, which has redeveloped a once-contaminated, 126-acre site less than a half-mile from the Turnpike.
“We are honored to have this global transport leader,” said Clark Machemer, a senior managing director with Crow Holdings Development. “DSV has been active in the market — they left no stone unturned in their site-selection process. This is a strong testament to our campus and to the borough of Carteret’s success in fostering a pro-business environment.”
According to Nissim, the property’s location near Port Newark-Elizabeth, ease of access and move-in readiness are driving high-profile tenants to Crow Holdings at Carteret.
“Long-term efficiency and speed to occupancy were priorities for DSV, and this campus easily meets those requirements,” Nissim said. “Add to that a top-notch development team, and this truly is a stand-out option within the marketplace.”
The deal follows a lease announced last fall with Weida Freight Systems, which took 188,000 square feet at 400 Salt Meadow Road for a regional distribution operation. The leasing team noted that Crow Holdings at Carteret is just 13 miles from the port district, providing tenants with quick access to sea and air transit, major thoroughfares and key New York City crossings.
It also has a 30-year payment in lieu of taxes agreement on the site, enabling long-term tax rate stability.
Crow Holdings, logistics firm ink 188,000 sq. ft. deal for first lease at Carteret industrial park
