35 Obrien St. in Kearny (as depicted in 2021) — Courtesy: Marcus & Millichap
By Joshua Burd
Co-warehousing firm ReadySpaces has added a third New Jersey location and its second this year, leasing 126,000 square feet at a Kearny industrial building.
The shared industrial and office space provider recently completed the deal at 35 Obrien St., about a half-mile from Route 7 in western Hudson County. Listed as coming soon, the location follows a long-established site in North Bergen and a recently announced, 164,500-square-foot facility in Saddle Brook, which represented its largest location to date when it completed the deal earlier this year.
Colliers Executive Vice President Mike Davis and Executive Managing Director Noah Balanoff represented ReadySpaces in the recent deals. The real estate services team also represents the company nationally.
ReadySpaces, which is based in San Francisco, which has more than dozen sites nationwide, also has a space in Queens. A recent report by Newmark highlighted the new Kearny location, noting that “a new source of demand for industrial space is beginning to emerge,” in an asset class that is already seeing record-low vacancy and skyrocketing rents.
“Co-warehousing providers typically operate shared facilities, offering flexible lease terms and smaller space sizes,” Newmark’s Colin Hyde wrote in the report. “These spaces could appeal to small businesses, as well as larger companies looking for turnkey space to store excess inventory.”
ReadySpaces noted that its Kearny facility will have 24/7 access, a loading dock and forklift access, along with private office suites and a community conference room. The company also touted its location 13 miles from Midtown Manhattan and minutes from highways such as Interstate 280 and the New Jersey Turnpike.
In Saddle Brook, ReadySpaces said it was backfilling a 164,500-square-foot building that was previously home to a corrugated box company. In announcing the new location, the firm said it aims to act as an incubator for small businesses by supplying storage and industrial workspaces, allowing them to scale their operations while providing collaborative workspaces and business services for like-minded entrepreneurs.
“Building our footprint in the tristate area has always been important to us because of the sheer volume of business here,” Kevin Petrovic, chief operating officer and co-founder of ReadySpaces, said in early February. “Finding the right properties, that are centrally located and accessible to transportation, has been key. We are thrilled to provide local business owners with the space and amenities they need to excel in 2022.”