Continental Terminals, a coffee and cocoa warehousing business, renewed its 406,437-square-foot lease at 200 Middlesex Ave. in Carteret, NAI James E. Hanson announced.
The warehouse, home to Continental Terminals since January 2016, is less than two miles from Exit 12 on the New Jersey Turnpike with easy access to Port Newark-Elizabeth Marine Terminal and Newark Liberty International Airport. It is owned by a leading, undisclosed real estate investor.
NAI Hanson’s Scott Perkins, Chris Todd, Andrew Somple, Greg James and Justin Allessio represented the owner; Tom Carragher, Steve Korfiatis, Craig Engelhardt and Chris Carragher of Newmark represented the tenant.
“It’s safe to say that finding over 400,000 square feet of prime industrial space in a market like Carteret is virtually impossible in the current market,” Perkins said. “In such a competitive market, institutional investors continue to be extremely well-positioned to create value from strategic leasing of their assets.
“We were happy to help them negotiate a deal that would keep a long-term tenant in place while also capitalizing on the strong market.”
