Advance Realty JV Lands HQ Lease in New Jersey
A national specialty products distributor will occupy an entire building at this major industrial park.
Advance Realty Investors, Greek Real Estate Partners and PGIM Real Estate have leased the entirety of a 332,635-square-foot distribution facility at 100 Linden Logistics Way within Linden Logistics Center in Linden, N.J., to Everflow Supplies.
Everflow Supplies is a national specialty provider of plumbing, HVAC, mechanical, fire protection, electrical and industrial products, serving wholesale distributors through a nationwide distribution network. The company is moving into 100 Linden Logistics Way to expand capacity and consolidate operations. In addition, the building will become Everflow’s corporate headquarters, in a move from Carteret, N.J.
100 Linden Logistics Way features 40-foot clear heights, 50 loading docks, two drive-in doors, 50 trailer parking spaces and parking for 187 cars. The building is LEED certified, sits within Foreign Trade Zone 49 and benefits from a 30-year tax PILOT.
Greek Design | Build completed 100 Linden Logistics Way and will start the tenant improvements for Everflow, including 15,000 square feet of office space with a break room, lab spaces and other ancillary space.
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A CBRE team led by Vice Chairmen Thomas Monahan and Larry Schiffenhaus represented ownership in the transaction. Everflow was represented by Principal Jordan Metz, Senior Associate Benito Abbate and Sales Associate James Friel of Metz Industrial Group of Bussel Realty.
The 4.1 million-square-foot Class A Linden Logistics Center was developed by a partnership of Advance Realty Investors, Greek Real Estate Partners and PGIM Real Estate. With the Everflow lease, all seven of the park’s current buildings are fully leased to a tenant roster that includes Maersk, Peloton, Samsung, SpeedX, Vanguard Logistics, World Distribution Services, Fabuwood Cabinetry and OCM Globe.
With 100 Linden fully leased, CBRE is marketing the eighth and final building of Linden Logistics Center, a 275,900-square-foot build-to-suit at 900 Linden Logistics Way, slated for completion in the second quarter of 2028.
Staying strong
In April, the PGIM / Advance / GREP partnership signed Maersk to a 233,492-square-foot lease that took up nearly half of a 515,600-square-foot distribution facility at 200 Linden Logistics Way. CBRE represented the joint venture, and JLL negotiated on behalf of Maersk.
The Northern and Central New Jersey industrial market experienced growing strength in the second quarter, with 8.0 million square feet of leasing activity, just the fourth quarter on record to exceed that threshold, according to a report from CBRE. First-half volume also hit a record of 17.2 million square feet. Net absorption totaled 5.9 million square feet, and overall vacancy fell to 7.6 percent.
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