{"id":1004654852,"date":"2023-04-03T12:06:00","date_gmt":"2023-04-03T20:06:00","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004654852"},"modified":"2023-04-04T00:22:49","modified_gmt":"2023-04-04T08:22:49","slug":"centerpoint-secures-tenant-for-new-jersey-project","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/centerpoint-secures-tenant-for-new-jersey-project\/","title":{"rendered":"CenterPoint Secures Tenant for New Jersey Project"},"content":{"rendered":"<div id=\"attachment_1004655330\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/04\/1501-W.-Edgar-Linden-NJ-e1680596281449.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004655330\" data-attachment-id=\"1004655330\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/centerpoint-secures-tenant-for-new-jersey-project\/dcim102mediadji_0024-jpg\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/04\/1501-W.-Edgar-Linden-NJ-e1680596281449.jpg\" data-orig-size=\"4104,3078\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;4.5&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;FC6310S&quot;,&quot;caption&quot;:&quot;DCIM102MEDIADJI_0024.JPG&quot;,&quot;created_timestamp&quot;:&quot;1679042597&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;8.8&quot;,&quot;iso&quot;:&quot;100&quot;,&quot;shutter_speed&quot;:&quot;0.0083333333333333&quot;,&quot;title&quot;:&quot;DCIM102MEDIADJI_0024.JPG&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"DCIM102MEDIADJI_0024.JPG\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;1501 W. Edgar, Linden, NJ.jpg Image courtesy of CenterPoint&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/04\/1501-W.-Edgar-Linden-NJ-e1680596281449.jpg?w=1024\" class=\"wp-image-1004655330 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/04\/1501-W.-Edgar-Linden-NJ-e1680596281449.jpg?w=300\" alt=\"\" width=\"300\" height=\"225\"><\/a><p id=\"caption-attachment-1004655330\" class=\"wp-caption-text\">1501 W. Edgar Road.<em> Image courtesy of CenterPoint Properties<\/em><\/p><\/div>\n<p>Third-party logistics company <strong>CODA Logistics and Distribution<\/strong> has signed a preleasing agreement at <strong>CenterPoint Properties<\/strong>\u2019 321,765-square-foot industrial development in Linden, N.J. The developer broke ground on the project in November 2022, with completion expected in August 2023.<\/p>\n<p>The Class A industrial project will be located at 1501 W. Edgar Road and will include 40-foot clear heights, 62 loading doors, 240 vehicle parking spots and 89 trailer parking spots.<\/p>\n<p>The company purchased the nearly 21-acre lot in 2021 for $31.5 million, according to CommercialEdge data. The property is close to interstates 278 and 95, within 5 miles from Howland Hook Marine Terminal, 6 miles from Newark Liberty International Airport, 11 miles from Port Newark-Elizabeth.<\/p>\n<p><strong>KBC Advisors<\/strong>\u2019 Partner Michael Kimmel negotiated on behalf of the tenant, which will use the property as a warehouse. <strong>Cushman &amp; Wakefield<\/strong>\u2019s Executive Managing Director Stephen Elman, Vice Chairmen Jules Nissim and Stan Danzig worked on behalf of CenterPoint Properties.<\/p>\n<p>Earlier this month, <a href=\"https:\/\/www.commercialsearch.com\/news\/link-logistics-inks-full-building-lease-at-new-jersey-warehouse\/\">GXO Logistics signed a full-building lease<\/a> at a 611,000-square-foot industrial warehouse in South Brunswick, N.J. KBC Advisors negotiated on behalf of the landlord, Link Logistics, which purchased the asset in 2019 as part of an $18.7 billion portfolio acquisition. In December 2022, Brookfield Properties<a href=\"https:\/\/www.commercialsearch.com\/news\/brookfield-properties-to-build-new-jersey-logistics-facility\/\"> started construction on Windsor 8 Logistics Center<\/a> in East Windsor, N.J. The 325,710-square-foot Class A industrial project is situated on a 28-acre site, with easy access to New York City and port of Newark-Elizabeth and is expected to be completed in 2024.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The facility is expected to be completed this summer. <\/p>\n","protected":false},"author":2991,"featured_media":1004655330,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21784,21782,21748,21742,10],"tags":[36217,32799,42548],"class_list":["post-1004654852","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-brokerage","category-development","category-industrial","category-latest","category-northeast","tag-centerpoint-properties","tag-cushman-wakefield","tag-kbc-advisors"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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