Logistics business signs 570K sq.ft. warehouse lease in Mount Olive

A logistics company has signed a lease for more than half a million square feet of warehouse space in Mount Olive, according to real estate services firm Cushman & Wakefield.

US Elogistics Service Corp.’s 570,777-square-foot lease is located at 703 Bartley-Chester Road, which Cushman & Wakefield calls the state’s largest available warehouse space.

Jason Goldman, Charles Fern, Andrew Siemsen and Jason Barton of the firm’s Iselin office represented the tenant and the current ownership of the property in the transaction.

“The tenant is a global logistics fulfillment solutions company that has been in rapid expansion mode during the past few years,” Fern said in a prepared statement. “The center offered them a rare combination of ‘plug-and-play’ features, including fully racked, 49-foot cubic storage capabilities and over 100,000 pallet positions, as well as the opportunity to take occupancy as soon as the lease was fully signed.”

Yuriy Gutkin, director of real estate for the Monroe Township-based Elogistics, added: “After observing the evolution of the e-commerce sector, we decided that now was the right time to acquire another warehouse close to one of our headquarters in New Jersey, in order to respond better to the industry needs. The new building will give us the chance to take on even more business and offer affordable storage and fulfillment solutions to our clients all over the world.”

The property still has approximately 845,000 square feet of space available, Cushman & Wakefield said.