27 Engelhard Ave. in Avenel — Courtesy: Bussel Realty Corp.
By Joshua Burd
Seagis Property Group has secured a new tenant for a 26,000-square-foot industrial building in Woodbridge, in one of two newly announced deals by Bussel Realty Corp.
In a news release, the brokerage team said it represented ownership in the lease at 27 Engelhard Ave. in the township’s Avenel section. The tenant, ZEMS Logistics, will occupy the full building, benefiting from its quick access to Route 1&9, the New Jersey Turnpike, the Goethals Bridge and Port Newark-Elizabeth and features such as 2,150 square feet of office space, 22-foot ceiling heights, six tailboards, one drive-in door, wet sprinklers and 17 parking spaces.
BRC Senior Vice President Jordan Metz, Senior Associate Ben Abbate and Sales Associate James Friel completed the assignment. Galaxy Fortune Realty represented ZEMS Logistics.
In the second deal, at 1001 Roosevelt Ave. in Carteret, the Metz-led team represented Seagis in a 5,708-square-foot lease with Revenant Logistics. The tenant will occupy unit 3 at the 93,286-square-foot property, which provides similar access and has features such as 751 square feet of office space, two tailboards and ample parking.
“These two recent leases are demonstrative of the current trend we are seeing, in which smaller facilities — 50,000 square feet and under — are outperforming the greater market from all metrics: lease-up time, rental rates and concessions,” Metz said. “We continue to have a bullish outlook on the fundamental strength of the Exit 12 region, and as tenant demand continues to trickle back into the market, we expect vacancy rates to begin slowly compressing in the coming quarters.”
