Metz of Bussel Realty Corp. Closes Multiple Industrial Transactions in Union County, New Jersey
EDISON, NEW JERSEY (July 11, 2018)- Bussel Realty Corp. (BRC), a leading corporate and industrial real estate services firm in New Jersey, today announced Jordan Metz, senior vice president of BRC, recently closed multiple industrial transactions in Union County, New Jersey.
“There’s a common thread to most of my deals, that being location, location, location. These port-proximate facilities allow companies to receive containers from the second largest port in the country, Port Newark/Elizabeth, truck them to their nearby warehouse, and then send their outbound deliveries to the consumer population centers of New York and Northern New Jersey, thus meeting our ever-growing consumer-economy appetite and demand for same and next day deliveries of whatever purchase we just made on our smartphones,” noted Metz.
Over the past several months, Metz arranged the following industrial real estate transactions:
67,000-square-foot sale of 1200 West Blancke Street in Linden, New Jersey, for $3,912,500 to West Coast Shipping.
47,000-square-foot lease for five years at 62 Grant Street in Carteret, New Jersey, with Qualmaxx Supplies. The landlord, Embee Associates, was represented in-house by Steve Bartner. Metz represented both the landlord and tenant.
40,500-square-foot lease for five years at 904 Woodruff Lane in Elizabeth, New Jersey, with McGinley Transportation Services and landlord, Elberon Development. McGinley is a local transportation company providing office furniture delivery and installations for companies. Metz represented both the landlord and tenant.
18,000-square-foot lease renewal for seven years at 2401 East Linden Avenue in Linden, New Jersey, with MM Foodpack. Metz represented both the tenant and landlord, Penwood Real Estate.
7,000-square-feet lease for five years at 1026 West Elizabeth Avenue in Linden, New Jersey, by Buy Bulk Deliver Fast LLC, an e-commerce company selling consumer household goods, relocating from Staten Island. Seagis is the owner of the property.
Metz continued, “These last-mile locations’ ability to service the end consumer and simultaneously limit their trucking costs puts them in a position to compete for a slice of the retail pie and to out-deliver their competition. Companies will pay a premium for a choice location. Many of these users are relocating from the New City boroughs, which makes Linden and Elizabeth, New Jersey, very attractive to employees and executives who don’t want to travel an hour to work on their morning and evening commutes.”
“The port-proximate region of New Jersey has been and remains to be very strong in its fundamentals. With below 2% vacancy rates and properties being leased and purchased at a rapid pace, all signs bode well for industrial real estate in these markets. Unless we plan to no longer hack away at our iPhones, impulsively purchasing and expecting those goods to be delivered to our doorstep within 24 hours, these trends in the industrial world will only continue to become more prevalent. With so few new product deliveries being absorbed as quickly as they can come online, expect pricing to remain strong.”
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 individual memberships in the Society of Office & Industrial Realtors (SIOR). BRC provides leasing and sales brokerage services to users, corporate occupiers, landlords, owners and investors, representing millions of square feet 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 square feet of corporate and industrial real estate in New Jersey.