NAI James E. Hanson helped facilitate leases in Allendale for 17,500 square feet of industrial/flex space at 5 Pearl Court with Fuller Ingredients and 9,500 square feet of industrial/flex space at 3 Pearl Court with Porcelanosa USA.
Hanson’s Kenneth Lundberg, Patrick Lennon and Lorenzo Lambiase represented the landlord, Camber Real Estate Partners, in both transactions. Savills’ Slava Vaynberg represented Fuller Ingredients in its transaction and Noah Balanoff of Colliers represented Porcelanosa USA in its transaction.
Located in the Allendale Industrial Park, 5 Pearl Court is a 37,343-square-foot single story industrial/flex building and 3 Pearl Court is a 42,773-square-foot single-story industrial/flex building. Each building features individual units and dedicated loading directly off Route 17.
Fuller Ingredients’ new space boasts two tailgates, 20-foot ceiling height and 60 car parking while Porcelanosa USA’s space includes one tailgate, 20-foot ceiling height, 480 volt electric service and a backup generator with transfer switch in place. The buildings are part of a seven-building, 370,000-square-foot industrial park that is owned and managed by Camber Real Estate Partners and Advance Realty Investors.
Fuller Ingredients plans to use the property for its East Coast operations and was attracted to the property by its high-quality condition and location within a corporate park setting. Porcelanosa USA intends to use its new space to house overflow storage for its retail locations on Route 17.
“The demand for quality industrial space in northern New Jersey continues to grow as the limited pipeline of available spaces decreases by the day,” Lundberg stated. “While the competitive market is ideal for landlords with properties like those within the Allendale Industrial Park, it is critical that they continue to take the time and effort to find the right tenants for their spaces. We’re thrilled to have found a great match between the needs of the landlord and these two tenants that will create a mutually beneficial relationship for years to come.”