20-21 Wagaraw Road in Fair Lawn — Courtesy: Team Resources Inc.
(Editor’s note: This story has been updated with new information from Lee & Associates New Jersey, which represented ownership.)
By Joshua Burd
A logistics company has leased more than 57,000 square feet of industrial space in Moonachie, in one of three newly announced transactions by Team Resources Inc.
The brokerage firm said it represented the tenant, Columbus Delivery & Logistics, in the commitment at 230 Moonachie Ave. The occupier, which provides last-mile delivery services in the Northeast and Mid-Atlantic regions, is taking 57,150 square feet.
Team Resources’ David Cantor, Greg Sholom and Alex Rosenberg completed the assignment for Columbus Delivery.
“This property provides CDL with a substantial base from which to reach their customers in a timely way,” Rosenberg said. “With 11 tailboard doors, high ceilings, ample parking and a central location, this property was a natural fit.”
In a separate news release, Lee & Associates New Jersey noted that Senior Vice President Michael Schaible and Assistant Vice President Troy Wisse represented the landlord, Prologis, in the six-year commitment. Ownership has completed improvements such as painting the interior and exterior of the property, installing new LED lighting and loading docks, building out new office space, paving the lot and planting new landscaping.
CDL is slated to move into the new space in December after relocating from another building in the Meadowlands.
“We are pleased to have brought this deal to fruition and work with a company like Prologis that continues to be the market leader in delivering high-quality industrial assets for its tenants,” Wisse said. “230 Moonachie Avenue is a prime industrial asset in the heart of the Meadowlands that allows CDL Last Mile Solutions to grow and operate at their highest efficiency. This deal reflects that, even during these unprecedented COVID-19 times, the industrial market has a prosperous future.”
The Team Resources brokers, along with David Knapel, also completed a recent lease at 20-21 Wagaraw Road in Fair Lawn. Dynamic Productions Inc., a production services provider for festivals, tours, concerts and live and virtual events, is taking 30,000 square feet at the 750,000-square-foot industrial complex.
Team Resources represented both the tenant and the landlord, The Silverman Group.
“The unit provides Dynamic Productions with a sizeable and affordable center from which to store and transport their equipment,” Knapel said. “This Bergen County location puts them in an ideal position to access venues throughout the tristate area.”
In the third transaction, Rosenberg, Cantor and Sholom inked a 33,000-square-foot sublease with T Force Logistics East LLC at 50 Amor Ave. in Carlstadt. Michael Markey of Colliers International represented the tenant.
