{"id":1004724581,"date":"2024-08-08T01:39:18","date_gmt":"2024-08-08T09:39:18","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004724581"},"modified":"2024-08-09T05:47:55","modified_gmt":"2024-08-09T13:47:55","slug":"crow-holdings-lands-2nd-tenant-at-1-2-msf-new-jersey-campus","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/crow-holdings-lands-2nd-tenant-at-1-2-msf-new-jersey-campus\/","title":{"rendered":"Crow Holdings Lands 2nd Tenant at New Jersey Campus"},"content":{"rendered":"\n<p><\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"alignright size-full is-resized\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/08\/300-Salt-Meadow-Road-Carteret-1.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"1200\" height=\"900\" data-attachment-id=\"1004724583\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/crow-holdings-lands-2nd-tenant-at-1-2-msf-new-jersey-campus\/300-salt-meadow-road-carteret-1\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/08\/300-Salt-Meadow-Road-Carteret-1.jpg\" data-orig-size=\"1200,900\" 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=\"300 Salt Meadow Road_Crow_Holdings\" data-image-description=\"&lt;p&gt;Property at 300 Salt Meadow Road, Carteret, N.J. &lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;With DSV leasing the entire building at 300 Salt Meadow Road, the campus neared the 50 percent occupancy mark. Image courtesy of Crow Holdings &lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/08\/300-Salt-Meadow-Road-Carteret-1.jpg?w=1024\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/08\/300-Salt-Meadow-Road-Carteret-1.jpg\" alt=\"Property at 300 Salt Meadow Road, Carteret, N.J. \" class=\"wp-image-1004724583\" style=\"width:400px\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/08\/300-Salt-Meadow-Road-Carteret-1.jpg 1200w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/08\/300-Salt-Meadow-Road-Carteret-1.jpg?resize=300,225 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/08\/300-Salt-Meadow-Road-Carteret-1.jpg?resize=768,576 768w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/08\/300-Salt-Meadow-Road-Carteret-1.jpg?resize=1024,768 1024w\" sizes=\"auto, (max-width: 1200px) 100vw, 1200px\" \/><\/a><figcaption class=\"wp-element-caption\">With DSV leasing the entire building at 300 Salt Meadow Road, the campus approached the 50 percent occupancy mark. <em>Image courtesy of Crow Holdings <\/em><\/figcaption><\/figure><\/div>\n\n\n<p>DSV Global Transport and Logistics has signed a full-building, 355,000-square-foot lease at Crow Holdings\u2019 1.2 million-square-foot industrial campus in Carteret, N.J. Cushman &amp; Wakefield brokered the deal on behalf of both parties.<\/p>\n\n\n\n<p>Denmark-based DSV is the second tenant that Crow Holdings added to the roster, bringing the campus closer to the 50 percent occupancy mark. <\/p>\n\n\n\n<p>The owner signed its first tenant last year, when Hong Kong-based <a href=\"https:\/\/www.commercialsearch.com\/news\/crow-holdings-lands-1st-tenant-at-1-2-msf-industrial-park\/\">Weida Freight System committed to 188,000 square feet<\/a>.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-text-color has-cyan-bluish-gray-color has-alpha-channel-opacity has-cyan-bluish-gray-background-color has-background is-style-wide\"\/>\n\n\n\n<p><strong>READ ALSO<\/strong>: <a href=\"https:\/\/www.commercialsearch.com\/news\/cracks-showing-in-port-industrial-markets\/\">Cracks Show in Port Industrial Markets<\/a><\/p>\n\n\n\n<hr class=\"wp-block-separator has-text-color has-cyan-bluish-gray-color has-alpha-channel-opacity has-cyan-bluish-gray-background-color has-background is-style-wide\"\/>\n\n\n\n<p>According to an interim financial report for 2024\u2019s second quarter, DSV expects air and sea markets to grow by 3 to 4 percent this year, while road is slated for a flat or low-growth scenario. DSV Solutions North America President Josh Summers stated in prepared remarks that the new lease more than doubles the firm\u2019s footprint in the region.<\/p>\n\n\n\n<p>Crow Holdings at Carteret comprises three facilities. The DSV-leased building features 40-foot clear heights, 164 car parking spaces, 35 trailer parking spaces, 50 dock doors and two drive-ins. The bay size is 54 by 54 feet, and the speed bay measures 65 feet. The transport and logistics company plans to expand the building\u2019s office space and specialized fit-outs, including 100,000 square feet of cooler capacity.<\/p>\n\n\n\n<p>Located at 300 Salt Meadow Road, the facility is less than 1 mile from New Jersey Turnpike Exit 12, some 8 miles from the Newark Airport and roughly 13 miles from Port Newark-Elizabeth.<\/p>\n\n\n\n<p>Cushman &amp; Wakefield Vice Chairs Jules Nissim and Stan Danzig alongside Senior Director Kimberly Bach represented Crow Holdings, while Vice Chair Mindy Lissner brokered on behalf of DSV.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-a-brownfield-redevelopment\">A brownfield redevelopment<\/h2>\n\n\n\n<p>Crow Holdings Development completed the campus&#8217; construction last year. The land had been previously used as industrial waste storage. In 2012, the 126-acre site underwent remediation, having been declared a landfill reclamation district by Carteret. <\/p>\n\n\n\n<p>Crow Holdings acquired the development site for $87 million. For its role in revitalizing the parcel, the firm received a 30-year, $135 million <a href=\"https:\/\/www.commercialsearch.com\/news\/building-your-cres-projects-capital-stack-with-taxes\/\">PILOT financing<\/a> for its newly debuted property.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-new-jersey-s-industrial-vacancy-rate-grows\">New Jersey&#8217;s industrial vacancy rate grows<\/h2>\n\n\n\n<p>New Jersey industrial demand remained solid throughout 2024\u2019s second quarter, with a leasing volume of 6.7 million square feet, according to a report by Cushman &amp; Wakefield. The amount marked a 24.9 percent increase year-over-year.<\/p>\n\n\n\n<p>However, the area\u2019s vacancy rate stood at 7.1 percent in June, up 540 basis points from June 2022. Meanwhile, <a href=\"https:\/\/www.commercialsearch.com\/news\/top-markets-for-industrial-deliveries\/\">industrial deliveries<\/a> clocked in at 7.7 million square feet year-to-date through June, which led to a negative absorption of 3 million square feet during the same period, the report reveals.<\/p>\n\n\n\n<p>Last month, China-based <a href=\"https:\/\/www.commercialsearch.com\/news\/trammell-crow-signs-342-ksf-tenant-at-new-jersey-logistics-center\/\">JW Fulfillment Inc. signed a 342,371-square-foot, full-building lease<\/a> at Trammell Crow Co.\u2019s Arsenal Trade Center, a 1 million-square-foot logistics center in Sayreville, N.J.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>A Denmark-based logistics firm will occupy a large part of this 1.2 million-square-foot property. <\/p>\n","protected":false},"author":3471,"featured_media":1004724583,"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":[37358,32799,52103],"class_list":["post-1004724581","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-brokerage","category-industrial","category-new-york","category-latest","category-northeast","tag-crow-holdings","tag-cushman-wakefield","tag-dsv"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Crow Holdings Lands 2nd Tenant at New Jersey Campus - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"DSV signed a 355,000-square-foot industrial lease at Crow Holdings&#039; industrial campus in Carteret, N.J., brokered by Cushman &amp; Wakefield.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/crow-holdings-lands-2nd-tenant-at-1-2-msf-new-jersey-campus\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Crow Holdings Lands 2nd Tenant at New Jersey Campus\" \/>\n<meta property=\"og:description\" content=\"DSV signed a 355,000-square-foot industrial lease at Crow Holdings&#039; industrial campus in Carteret, N.J., brokered by Cushman &amp; Wakefield.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/crow-holdings-lands-2nd-tenant-at-1-2-msf-new-jersey-campus\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2024-08-08T09:39:18+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-08-09T13:47:55+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/08\/300-Salt-Meadow-Road-Carteret-1.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"900\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Claudiu Tiganescu\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/crow-holdings-lands-2nd-tenant-at-1-2-msf-new-jersey-campus\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/crow-holdings-lands-2nd-tenant-at-1-2-msf-new-jersey-campus\/\",\"name\":\"Crow Holdings Lands 2nd Tenant at New Jersey Campus - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/crow-holdings-lands-2nd-tenant-at-1-2-msf-new-jersey-campus\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/crow-holdings-lands-2nd-tenant-at-1-2-msf-new-jersey-campus\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/08\/300-Salt-Meadow-Road-Carteret-1.jpg\",\"datePublished\":\"2024-08-08T09:39:18+00:00\",\"dateModified\":\"2024-08-09T13:47:55+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/cbed638584257d6fb5a2a9c95c982b66\"},\"description\":\"DSV signed a 355,000-square-foot industrial lease at Crow Holdings' industrial campus in Carteret, N.J., brokered by Cushman & Wakefield.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/crow-holdings-lands-2nd-tenant-at-1-2-msf-new-jersey-campus\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/crow-holdings-lands-2nd-tenant-at-1-2-msf-new-jersey-campus\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/crow-holdings-lands-2nd-tenant-at-1-2-msf-new-jersey-campus\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/08\/300-Salt-Meadow-Road-Carteret-1.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/08\/300-Salt-Meadow-Road-Carteret-1.jpg\",\"width\":1200,\"height\":900,\"caption\":\"With DSV leasing the entire building at 300 Salt Meadow Road, the campus neared the 50 percent occupancy mark. 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