Food company signs for 125K sq.ft. in Wood-Ridge

GraceKennedy Foods LLC, a distributor of Caribbean, Central American and South American food products, has signed a lease for nearly 125,000 square feet of space at an upcoming warehouse in Wood-Ridge, according to owner Duke Realty Corp.

The warehouse at 5 Ethel Blvd. is slated for completion in early 2019, the real estate investment trust said in a news release. GraceKennedy Foods will take 124,888 square feet, representing 64 percent of the available space.

“We are pleased with GraceKennedy’s early commitment to lease space in our newest industrial building in New Jersey,” Ben Rosen, vice president of leasing for Duke Realty in New Jersey, said in a prepared statement. “In choosing 5 Ethel, GraceKennedy will be operating in one of the newest and most functional distribution facilities in the entire Meadowlands market, offering extraordinary accessibility to Manhattan and the rest of the New York metropolitan area.”

GraceKennedy is consolidating operations from elsewhere in the Meadowlands, Duke said, with a goal of improving operating efficiencies and cutting costs.

Michael Schaible of Lee & Associates represented the tenant in the transaction, while Rosen and Caitlin English of Duke’s East Rutherford office and Robert Kossar, David Knee, Christopher Hile and Brian Golden of JLL represented the owner.

The property has a 69,000-square-foot space remaining for lease.