Bussel Realty Corp. Leases 160,000 Sf At 1000 Jefferson Avenue In Elizabeth, New Jersey
EDISON, NEW JERSEY (June 10, 2013)- Bussel Realty Corp. (BRC), a leading corporate and industrial real estate services firm in New Jersey, today announced its completed 160,000 sf in new lease transactions at 1000 Jefferson Avenue in Elizabeth, New Jersey, a 195,000 sf industrial building. Vice President Jordan Metz of BRC exclusively represented the landlord, Templer Associates Inc., and leased 38,000 sf to I&L Distribution; 52,000 sf to McGinley Transportation Services; and 70,000 sf to Duro Standard Products.
Metz closed the three leases within three weeks in May, bringing the property to fully-leased status. The owner/landlord occupies the balance of the space. Metz and David Posner of BRC represented both tenants, I&L and McGinley, while Barry Cohorsky and Russel Verducci of NAI Hansen represented Duro in the respective transactions.
Strategically located next to Port Newark and Newark Liberty International Airport, 1000 Jefferson Avenue in Elizabeth, New Jersey, sits on 6 acres, has 16’ to 20’ high ceilings, 75 parking spaces, and 25 tailboards. The property is just minutes to Exit 13A of the New Jersey Turnpike, Routes 1&9, and Port Elizabeth/Newark and Newark Liberty International Airport.
“Before taking over the assignment, 1000 Jefferson Avenue sat mostly vacant for over a year,” said Metz. “We brought tremendous exposure and activity to the property but nothing came to fruition until March, when several users started making us offers to lease the property. By May, we were in serious negotiations resulting in several deals closing -- one after the other in rapid succession. The Port Newark market is currently so tight, it was really a matter of time until those companies seeking space were going to land here. All three of these new tenants who viewed the property, first scoured the market, and ultimately came back to us as we offered an affordable, functional warehouse in a great location.”
About Bussel Realty Corp.
With one of the largest dedicated industrial brokerage staffs in New Jersey, Bussel Realty Corp. (BRC) is a leading industrial real estate services firm, located in Central New Jersey with an individual membership in the Society of Office & Industrial Realtors (SIOR). Bussel Realty provides leasing and sales brokerage services to users, corporate occupiers, landlords, owners and investors, representing more than a million sf of property and tenant client assignments annually. The firm’s clients have included several of the largest Fortune 500 Companies, as well as numerous manufacturing, distribution and services companies both nationally and locally. Currently, BRC is handling in excess of three million sf of corporate and industrial real estate in New Jersey.
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