99 Murray Hill Pkwy. in East Rutherford — Courtesy: NAI James E. Hanson
By Joshua Burd
NAI James E. Hanson has brokered two lease renewals at a nearly 143,000-square-foot industrial building in East Rutherford, the real estate services firm said Tuesday.
The larger of the two tenants is Pittsburgh Glass Works LLC, which leases 24,000 square feet at 99 Murray Hill Pkwy., NAI Hanson said in a news release. The lease will enable the tenant, which operates more than 100 auto glass and shop accessories distribution branches throughout the U.S. and Canada, to support its distribution needs for small order, same-day and overnight auto glass delivery.
The other user, EC Hair, recommitted to its space for 16,438 square feet. The haircare products distributor uses the space to operate a large distribution and warehousing business.
NAI Hanson’s Kenneth Lundberg, Steve Pastor and Patrick Lennon represented the tenants and the landlord, 99 Murray Hill Parkway Inc.
“Deals like this highlight the strong growth factors powering the Meadowlands industrial market,” Lundberg said. “A relatively limited pipeline of new development and increased demand from distribution and warehousing operations has caused rents to continue to rise in the Meadowlands.
“Like Pittsburgh Glass Works and EC Hair, many tenants in this market are seeking to negotiate renewals in existing spaces to mitigate the impact of continued rate increases.”
Sitting on 8.4 acres, 99 Murray Hill Pkwy totals 142,624 square feet and is located just south of MetLife Stadium, NAI Hanson said. The property offers quick access to the New Jersey Turnpike and New York City via the George Washington Bridge, along with routes 3, 17, and 120.