Metz of Bussel Realty Leases 76,556 SF in Linden & Kearny, New Jersey
EDISON, NEW JERSEY (November 27, 2018) – Bussel Realty Corp. (BRC), a leading industrial real estate services firm in New Jersey, today announced that Senior Vice President Jordan Metz leased 76,556 square feet of industrial space in two new leases in Kearny and Linden, New Jersey.
Philadelphia Truck Lines leased 47,670 square feet at 2401 East Linden Avenue in Linden, New Jersey. Metz represented the landlord, Penwood Real Estate Investments, in the transaction. Jackson Cross Partners in Wayne, Pennsylvania, represented the tenant. Blossom Kitchen Bath Supply leased 28,886 square feet at 1250 Newark Turnpike in Kearny, New Jersey. Metz represented both the landlord, Heller Industrial Parks, and the tenant in this transaction.
“Philadelphia Truck Lines was one of several bidders vying for the newly-renovated space at 2401 East Linden Avenue, an asset I sold Penwood two years ago,” said Metz. “Having signed new long-term leases with the other two tenants in the building this year (both food companies), this new Philadelphia Truck Lines deal brings the asset to 100 percent stabilization. This is a textbook example of an investor acquiring a value-add asset in a choice location, infusing the necessary capital towards building upgrades and renovations, implementing a strong marketing plan, and leasing out the spaces to quality tenants paying historically high lease rates. I’m proud to have played an integral role in helping to facilitate this successful outcome.”
Metz added, “Blossom Kitchen is in growth-mode and needed a larger warehouse to complement its current facility and showroom in Queens, New York. 1250 Newark Turnpike provided the strategic location proximate to the Ports, with immediate access to all major transportation arteries, enabling Blossom to service its customers more efficiently. Both of these transactions attest to the market’s strength and strong demand for last mile distribution near and around the Ports and New York City, where companies are heavily competing for coveted e-commerce distribution space.”
Sitting on a 3.5-acre site, 2401 East Linden Avenue is an 83,220-square-foot industrial property located near Route 1-9, the New Jersey Turnpike and the Goethals Bridge to Staten Island. It is also in close proximity to Newark Liberty Airport, Port Newark/Elizabeth and New York City. The property features 10 loading docks, three drive-ins, 4,000 amps of electric power, 21-foot ceiling heights and 74 parking spaces.
Sitting on a 3.78-acre site, 1250 Newark Turnpike is a 50,246-square-foot industrial property located near the New Jersey Turnpike, Route 7, 9 and I-78. It is in close proximity to Jersey City, Downtown Newark, Newark Liberty Airport, Port Newark/Elizabeth and the Holland Tunnel to Manhattan. The property features 17 loading docks, one drive-in, 200-800 amps of electric power, 20-foot ceiling heights, 20 trailer parking spaces and 50 free surface parking spaces.
About Philadelphia Truck Lines
Philadelphia Truck Lines, Inc. (PTL), founded in 1983, has grown into one of the premier super-regional carriers servicing the U.S. Eastern Seaboard. With company terminal coverage from New York (JFK) to Atlanta (ATL) and interline systems into strategic markets such as DFW, IAH, MIA, and ORD, Philadelphia Truck Lines offers a unique closed-loop system combining Container Freight Station services, time definite air cargo line haul services, and LTL/TL trucking solutions.
About Blossom Kitchen Bath Supply
Blossom is a luxury brand in the Kitchen & Bath furnishings offering Vanities, Faucets, Medicine Cabinets and Bathroom Accessories. Blossom was founded by a partnership team with over a decade of experience and backgrounds in the Kitchen & Bath world.
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.