East Hanover Commerce Park on Ridgedale Avenue in East Hanover — Courtesy: Urban Edge Properties
By Joshua Burd
Urban Edge Properties has leased more than 286,000 square feet of industrial space in East Hanover after securing new long-term commitments from two tenants.
In the larger deal, Best Way Trucking is taking 186,855 square feet at what’s known as the East Hanover Commerce Park, at 151 Ridgedale Ave. The second tenant, Decker Tape Products Inc., is leasing 99,527 square feet at the site.
The property is now fully leased, the real estate investment trust said.
“The industrial leasing landscape in New Jersey is a multifaceted and crucial component of the region’s economy,” said Leigh Lyons, senior vice president of leasing at Urban Edge Properties. “Despite its intricacies, the demand for industrial space remains robust, and we are delighted to have successfully filled a large vacancy in a significant asset we acquired in 2021. Our expansion into industrial reflects our expertise in real estate leasing, which we leverage to cater to the specific demands of retailers, particularly with regard to last-mile delivery and other back-of-house operations.”
In a news release, Urban Edge said Best Way Trucking is a third-party logistics and warehousing services firm established in 1975. Meantime, George Decker is a family-owned business founded in 1969 that has since grown into a leading supplier of pressure-sensitive tapes and labels.
They are among the latest additions to East Hanover Commerce Park, which spans more than 1.2 million square feet and provides users with quick access to interstates 287, 80 and 280. Tom Consiglio and Scott Peck of Resource Realty represent ownership, while Gregory J. Sabato of Resource Realty and Thomas Mallaney represented the respective tenants.
