343 Murray Hill Parkway in East Rutherford — Courtesy: NAI James E. Hanson
By Joshua Burd
An international logistics firm has leased more than 50,000 square feet in East Rutherford, under a newly announced transaction by NAI James E. Hanson.
The tenant, Axis Global Logistics, is taking 53,361 square feet at 343 Murray Hill Parkway in an effort to service its growing client base in the New York City area. NAI Hanson’s Kenneth Lundberg, Patrick Lennon, Lorenzo Lambiase and Steve Pastor represented the landlord, 343 Murray Hill Parkway Inc., while Steve Elman of Cushman & Wakefield represented Axis Global.
“It is no secret at this point that the Meadowlands industrial market is among the region’s most competitive,” Lundberg said. “For both landlords and tenants, that high level of competition can add significant complexity to deals adding delays and cost overruns that most businesses cannot afford to absorb. However, our experience and market knowledge are tremendous assets for both sides of any transaction and enable us to ensure deals of any complexity are efficiently brought across the finish line.”
Founded in 1997, Axis Global is a third-party logistics provider with eight office locations and over 1,500 agents worldwide, according to a news release. Its newest location, which is professionally managed by NAI Hanson’s Property Management Group, is a single-story industrial building adjacent to the Meadowlands Sports Complex.
The property offers quick access to routes 3 and 17, along with the Garden State Parkway, New Jersey Turnpike and Interstate 80. The building has 16- to 21-foot ceiling heights, eight tailgates, three drive-ins and more than 35 trailer parking spaces.