NAI Hanson Arranges Lease for Industrial Space in The Meadowlands Bringing National Transportation and Logistics Firm to East Rutherford, N.J.
East Rutherford, N.J. (August 17, 2017) – NAI James E. Hanson, a leading New Jersey-based full-service independent commercial real estate firm, announced a lease for 24,488 square feet of industrial space to Beavex Corp. at 343 Murray Hill Parkway in East Rutherford, N.J. NAI Hanson’s Kenneth Lundberg, Steve Pastor and Patrick Lennon represented the landlord, 343 Murray Hill Parkway, Inc., and Jackson Hill and Luke Denny of Fischer & Co. represented the tenant, Beavex, in the transaction.
343 Murray Hill Parkway is a single-story 53,361-square-foot industrial building with 4,000-square feet of office space, 21’ clear ceilings, four tailgates and one over-sized drive-in. The property is located just west of MetLife Stadium and offers excellent accessibility to the New Jersey Turnpike and New York City via the George Washington Bridge as well as Routes 3, 17, and 120.
Beavex is a leading provider of time-critical, same-day transportation and logistics services to businesses throughout the United States. In 2016 alone, the firm delivered over 90,000,000 packages for a variety of industries across the nation. Beavex was seeking a distribution oriented facility in the Meadowlands submarket that offered accessibility to major highways and an adaptable layout to support their distribution network and business operations.
“The Meadowlands’ accessibility and close proximity to major population centers continue to be large draws for national logistics companies when considering their expansion needs in the New York City metro area,” said Lundberg. “As industrial demand continues to increase and supply remains constricted, we are approaching double digit rents for properties like 343 Murray Hill Parkway. This high demand and low supply environment enabled us to negotiate a mutually beneficial deal on behalf of the landlord that drew a premium rental price while allowing Beavex to expand their operations in this market.
NAI James E. Hanson’s industrial team recently published their Q2 2017 Northern and Central New Jersey Industrial report, which highlights market trends and key data for industrial space throughout the region. To stay connected with NAI James E. Hanson and for updates on the latest transactions and news, please follow NAI Hanson on Facebook (www.facebook.com/NAIHanson), Twitter (@NAI_Hanson), and LinkedIn (www.linkedin.com/company/nai-james-e-hanson).