{"id":1004658066,"date":"2023-04-20T01:35:28","date_gmt":"2023-04-20T09:35:28","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004658066"},"modified":"2023-04-20T05:05:12","modified_gmt":"2023-04-20T13:05:12","slug":"prologis-signs-115-ksf-tenant-at-new-jersey-warehouse","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/prologis-signs-115-ksf-tenant-at-new-jersey-warehouse\/","title":{"rendered":"Prologis Signs 115 KSF Tenant at New Jersey Warehouse"},"content":{"rendered":"<div id=\"attachment_1004658080\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/04\/1000-New-County-e1681901470350.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004658080\" data-attachment-id=\"1004658080\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/prologis-signs-115-ksf-tenant-at-new-jersey-warehouse\/1000-new-county\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/04\/1000-New-County-e1681901470350.jpg\" data-orig-size=\"1817,1361\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"1000 New County Road. Image courtesy of CBRE\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;1000 New County Road. Image courtesy of CBRE&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/04\/1000-New-County-e1681901470350.jpg?w=1024\" class=\"wp-image-1004658080 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/04\/1000-New-County-e1681901470350.jpg?w=300\" alt=\"1000 New County Road. Image courtesy of CBRE\" width=\"300\" height=\"225\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/04\/1000-New-County-e1681901470350.jpg 1817w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/04\/1000-New-County-e1681901470350.jpg?resize=300,225 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/04\/1000-New-County-e1681901470350.jpg?resize=768,575 768w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/04\/1000-New-County-e1681901470350.jpg?resize=1024,767 1024w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/04\/1000-New-County-e1681901470350.jpg?resize=1536,1151 1536w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004658080\" class=\"wp-caption-text\">1000 New County Road. <em>Image courtesy of CBRE<\/em><\/p><\/div>\n<p><strong>Prologis<\/strong> has landed a new tenant at 1000 New County Road in Secaucus, N.J. <strong>Global Interactive Logistics<\/strong> has signed a 115,000-square-foot long-term lease. The tenant is relocating and expanding its services from 123 Pennsylvania Ave. in Kearny, N.J.<\/p>\n<p>Vice Chairman Jeff Babikian, Senior Vice President Nick Klacik, Executive Vice President Kevin Dudley and Senior Associate Conor Dolan with <strong>CBRE<\/strong> represented GIL. CBRE\u2019s Vice Chairman Tom Monahan alongside Executive Vice President Larry Schiffenhaus spearheaded the leasing efforts and assisted the owner in the transaction.<\/p>\n<p>Prologis acquired the 525,224-square-foot building in 1996 from <strong>Security Capital Group<\/strong> for $16.3 million, CommercialEdge data shows.<\/p>\n<hr>\n<p><strong>READ ALSO<\/strong>: <a href=\"https:\/\/www.commercialsearch.com\/news\/manufacturings-comeback-boosts-industrial-space-demand\/\">Manufacturing\u2019s Comeback Boosts Industrial Space Demand<\/a><\/p>\n<hr>\n<p>Completed in 1968, the Class B property features 24-foot clear heights, dock levelers and bumpers, loading doors, ESFR and dry sprinklers, exhaust fans, 20 additional dock positions and offers 207 parking spaces. The building is fully occupied, with Empire Office and National Packaging Services on the tenant roster.<\/p>\n<p>The 25.5-acre warehouse is in the Meadowlands submarket, 13 miles from New York City, 9.4 miles from Newark and has access to Interstate 95. Newark Liberty International Airport is 10 miles Southwest of the property. Companies in the surrounding area include Goya Foods, FedEx, Equinix Data Center, Macy\u2019s Logistics and Operations and Union Beer Distributors, among others.<\/p>\n<h2>Recent industrial leases in New Jersey<\/h2>\n<p>New Jersey\u2019s in-place rent for industrial space was up 8.7 percent year-over-year as of February, with a vacancy rate of 2.8 percent, 110 basis points lower than the national rate, the latest <a href=\"https:\/\/www.commercialsearch.com\/news\/electric-vehicle-industry-may-offer-industrial-boost\/\">CommercialEdge report<\/a> shows.<\/p>\n<p>Recently, Link Logistics inked a <a href=\"https:\/\/www.commercialsearch.com\/news\/link-logistics-inks-full-building-lease-at-new-jersey-warehouse\/\">full-building lease<\/a> at its 611,000-square-foot warehouse in South Brunswick, N.J., while CenterPoint Properties secured a tenant in a <a href=\"https:\/\/www.commercialsearch.com\/news\/centerpoint-secures-tenant-for-new-jersey-project\/\">preleasing agreement<\/a> at its 321,765-square-foot industrial development, which is scheduled for completion in August 2023.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>With the latest lease, the building is now fully occupied.<\/p>\n","protected":false},"author":2829,"featured_media":1004658080,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21784,21748,1600,21742,10],"tags":[32789,32956],"class_list":["post-1004658066","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-brokerage","category-industrial","category-new-york","category-latest","category-northeast","tag-cbre","tag-prologis"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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