CARTERET – The world’s third-largest transportation and logistics company has signed a purchase agreement for an entire 355,000-square-foot building at Crow Holdings in Carteret.
DSV Global Transport and Logistics has leased 300 Salt Meadow Road, becoming the second tenant at Crow Holdings Development’s new 120,000-square-foot industrial site located off Turnpike Exit 12.
Jules Nissim, Stan Danzig and Kimberly Bach of Cushman & Wakefield negotiated the transaction as exclusive leasing agents for Crow Holdings in Carteret; Mindy Lissner of Cushman & Wakefield served as tenant representative.
DSV, which is headquartered in Denmark and has more than 1,600 offices and logistics facilities worldwide, will serve a high-profile customer from its Carteret site. Plans include an expansion of the building’s existing office space and special fit-outs, including 100,000 square feet of refrigeration capacity.
“We are very pleased to have chosen this new facility in Carteret,” said Josh Summers, president of DSV Solutions North America, in a press release. “This more than doubles our presence in the region and allows us to leverage our already extensive capabilities there. Crow Holdings Development’s property is the ideal choice and we believe it underscores our commitment to our customers’ growth.”
DSV’s selection of Crow Holdings in Carteret is a clear justification for the project, says Clark Machemer of Crow Holdings Development. “We are honored to have this world-leading transportation provider,” he said in the press release. “DSV has been active in the market – they left no stone unturned in their site selection. This is a strong testament to our campus and to the Borough of Carteret’s success in fostering a business-friendly environment.”
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With the DSV lease, Crow Holdings is nearing 50 percent occupancy at Carteret and interest remains strong. Cushman & Wakefield is marketing a remaining 479,700 square foot full build-out opportunity as well as a 146,400 square foot partial build-out.
Nissim said the property’s Greater Port Market location, easy accessibility and move-in readiness are attracting high-caliber tenants to Crow Holdings in Carteret. “Long-term efficiency and rapid occupancy have been priorities for DSV, and this campus easily meets those needs,” he said in the release. “Add to that a world-class development team, and this is truly a standout option in the market.”
Crow Holdings at Carteret is located on 126 acres just 13 miles from the Port Newark-Elizabeth Marine Terminal and offers convenient access to maritime and air transportation, major thoroughfares, as well as key border crossings into New York City. It is suitable for a variety of uses and benefits from a 30-year PILOT agreement that allows for long-term rate stability. Since opening, the campus, which also houses a regional distribution operation for Weida Freight Systems, has received several industry awards.
Crow Holdings Development has a strong presence in the Northeast, including the recently completed 25 Market Street in Elmwood Park and more than 3.5 million square feet of new construction in New Jersey and Pennsylvania over the past two years.
Brad Wadlow is an editor at MyCentralJersey.com
