Cushman & Wakefield Arranges 82,000-Sq.-Ft. Lease for Metro Logistics
Metro Logistics LLC has leased 82,000 square feet, encompassing the full building at 4 Engelhard Avenue in the Avenel section of Woodbridge Twp., N.J. The Edison, N.J.-based Cushman & Wakefield team of Daniel Badenhausen and Andrew Stypa represented both Metro Logistics, a long-time client, and the landlord.
With the signing, Metro Logistics has relocated its operations from a 25,000-square-foot unit in Secaucus, N.J. Prior to that, the company, a full-service warehouse, trucking and distribution operator specializing in LTL pick-ups and deliveries, had occupied 10,000 square feet in North Bergen, with the Cushman & Wakefield team facilitating that previous relocation as well.
"Rapidly growing and adding new customers, including for e-commerce fulfillment, Metro Logistics was constrained at its previous site," said Badenhausen. "The site search included locations up and down the New Jersey Turnpike corridor in Northern and Central New Jersey. The Turnpike Exit 12 area provided a good place to move, and the landlord provided major improvements including a new roof, repaving and upgraded security to suit the tenant's needs. Another major factor is that this is a stand-alone facility, not a multi-tenant facility as was their previous location."
"This location is close to the ports, closer to many of our customers, and has easy access not only to the Turnpike, but also to Routes 1 and 9," said Richard Morello, president of Metro Logistics. "It is the right size, has the right yard, a lot of doors for a building this size-all the things we were looking for. And once again, Dan Badenhausen and Andy Stypa were instrumental in the decision-making process for us."
The signing and relocation comes as activity in New Jersey's industrial market continues to pick up steam.
"This was a very advantageous deal, and the timing was just right in a market that has been improving," said Stypa. "We were able to secure a good lease rate with a substantial amount of TI built in under terms that might not have been available for very much longer."