{"id":1004753038,"date":"2025-04-02T04:46:41","date_gmt":"2025-04-02T12:46:41","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004753038"},"modified":"2025-04-02T04:48:43","modified_gmt":"2025-04-02T12:48:43","slug":"crow-holdings-lands-3rd-lease-at-1-2-msf-campus","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/crow-holdings-lands-3rd-lease-at-1-2-msf-campus\/","title":{"rendered":"Crow Holdings Lands 3rd Lease at 1.2 MSF Campus"},"content":{"rendered":"<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\/2025\/04\/400-Salt-Meadow-Road-e1743580224523.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"4546\" height=\"3407\" data-attachment-id=\"1004753039\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/crow-holdings-lands-3rd-lease-at-1-2-msf-campus\/400-salt-meadow-road-2\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/04\/400-Salt-Meadow-Road-e1743580224523.jpg\" data-orig-size=\"4546,3407\" 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;1729611855&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;1&quot;}\" data-image-title=\"400 Salt Meadow Road\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;Image courtesy of Crow Holdings Development&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/04\/400-Salt-Meadow-Road-e1743580224523.jpg?w=1024\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/04\/400-Salt-Meadow-Road-e1743580224523.jpg\" alt=\"Exterior shot of Building B, an industrial facility part of Crow Holdings at Carteret in Carteret, N.J.\" class=\"wp-image-1004753039\" style=\"width:402px;height:auto\"\/><\/a><figcaption class=\"wp-element-caption\">The facility is on a 31-acre lot and features 40-foot clear heights and ample parking space for trailers and vehicles. <em>Image courtesy of Crow Holdings Development<\/em><\/figcaption><\/figure><\/div>\n\n\n<p>Crow Holdings Development has signed a 146,000-square-foot, long-term lease with YunExpress at  Crow Holdings at Carteret. The nearly 1.2 million-square-foot industrial park is in Carteret, N.J., in the Cranford-Union submarket.<\/p>\n\n\n\n<p>The new space will be at 400 Meadow Road, within the 334,620-square-foot Building B. With this deal, the tenant is also expanding its regional footprint.<\/p>\n\n\n\n<p>The China-based third-party logistics provider is the third tenant at the 126-acre campus. Other companies at the industrial park include Weida Freight System Inc., which occupies space at Building B, and DSV Global Transport and Logistics, which <a href=\"https:\/\/www.commercialsearch.com\/news\/crow-holdings-lands-2nd-tenant-at-1-2-msf-new-jersey-campus\/\">fully leased Building C<\/a> last year. The only full-building availability at the campus is Building A, encompassing 479,700 square feet at 500 Salt Meadow Road.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity has-very-light-gray-to-cyan-bluish-gray-gradient-background has-background is-style-wide\"\/>\n\n\n\n<p><strong>READ ALSO<\/strong>: <a href=\"https:\/\/www.commercialsearch.com\/news\/whats-next-for-industrial-real-estate\/\">Industrial Real Estate\u2019s Future Depends on Adaptability<\/a><\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity has-very-light-gray-to-cyan-bluish-gray-gradient-background has-background is-style-wide\"\/>\n\n\n\n<p>Newark Liberty International Airport is 9 miles away while Port Newark-Elizabeth Marine Terminal is within 10 miles. Building B features 40-foot clear heights, 20 dock doors, one drive-in door and 66-foot speed bays. Additionally, the property includes 10 trailer parking spots and 158 vehicle parking spots.<\/p>\n\n\n\n<p>Completed in 2023, Crow Holdings at Carteret provides fast access to Interstate 95, as well as to key New York City crossings. The industrial campus benefits from a 30-year <a href=\"https:\/\/www.commercialsearch.com\/news\/building-your-cres-projects-capital-stack-with-taxes\/\">PILOT deal<\/a>, allowing long-term tax rate stability.<\/p>\n\n\n\n<p>Savills Vice Chairman Steve Card, Senior Vice President Christopher Marx, Senior Managing Director Chris O\u2019Connor, Managing Director Taylor DeRisi, together with Corporate Managing Director Peter Starr and Associate Director Chris Marx Jr., represented the tenant. Cushman &amp; Wakefield Vice Chairmen Jules Nissim and Stan Danzig, along with Senior Director Kimberly Bach, worked as exclusive brokers for the property.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-new-jersey-s-high-industrial-lease-spreads\">New Jersey&#8217;s high industrial lease spreads<\/h2>\n\n\n\n<p>National in-place rents averaged $8.43 per square foot in February 2025, marking an eight-cent increase in the month and a 7.1 percent year-over-year growth for industrial, according to a recent <a href=\"https:\/\/www.commercialsearch.com\/news\/commercialedge-industrial-report-february-2025\/\">CommercialEdge report<\/a>. The spread between leases inked over the past 12 months and the overall market average In New Jersey reached $3.84 per square foot, one of the highest in the nation. Still, the metro&#8217;s vacancy rate clocked in at 9.5 percent, marking a 490-basis-point increase year-over-year.<\/p>\n\n\n\n<p>This wasn&#8217;t the only noteworthy Crow Holdings deal in the area lately. The content platform of Major League Baseball signed a <a href=\"https:\/\/www.commercialsearch.com\/news\/mlb-network-to-relocate-new-jersey-hq\/\">full-building lease at 25 Market St.<\/a> in Elmwood Park, N.J., where it will move all its operations before the 2028 baseball season starts.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>A third-party logistics provider is the new tenant at this New Jersey campus.<\/p>\n","protected":false},"author":2991,"featured_media":1004753039,"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":[37358,34908,34107],"class_list":["post-1004753038","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-wakefeld","tag-savills"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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