NAI James E. Hanson, a commercial real estate firm based in Teterboro, announced on Thursday it has negotiated an industrial building lease in East Rutherford.
NAI Hanson’s Kenneth Lundberg, Patrick Lennon, Lorenzo Lambiase and Steve Pastor represented the landlord, 343 Murray Hill Parkway Inc., in the deal. Cushman & Wakefield‘s Steve Elman represented the tenant, Axis Global, a North Bergen-based third-party logistics provider.
With its 53,361-square-foot full building lease at 343 Murray Hill Parkway, Axis Global will be able to serve its client base in the New York City metropolitan market.
The property, which is managed by NAI Hanson’s Property Management Group, is a single-story industrial asset right next door to the Meadowlands Sports Complex in East Rutherford. It is also within close access to routes 3 and 17 as well as the Garden State Parkway, New Jersey Turnpike and Interstate 80. In addition to its location, it has 16- to 21-foot ceilings, eight tailgates, three drive-ins and more than 35 trailer parking spots.
“It is no secret at this point that the Meadowlands industrial market is among the region’s most competitive,” Lundberg said. “For both landlords and tenants, that high level of competition can add significant complexity to deals adding delays and cost overruns that most businesses cannot afford to absorb. However, our experience and market knowledge are tremendous assets for both sides of any transaction and enable us to ensure deals of any complexity are efficiently brought across the finish line.”