The Short Hills-based Blau & Berg Co. recently brokered a lease for a 31,000-square-foot terminal on North Ave East in Elizabeth.
Jason Crimmins, Alessandro Conte, Peter Murano Jr. and Michael Schipper of the Blau & Berg Co., along with Kenneth Crimmins, also with the Blau & Berg Co., co-brokered the lease. Blau & Berg originally leased the facility to ICT in April 2022 and subsequently subleased it to Daylight Transport in May 2023 at the same rate.
The 54-door terminal sits adjacent to the southern portion of Newark Liberty International Airport and the Port of Newark, less than a mile from the New Jersey Turnpike.
“The appetite for terminal space a year ago was different than it is now,” Crimmins, president of the Blau & Berg Co., said. “In April of 2022, a 54-door facility like this located in the Port of Newark was a rarity. Now, we are seeing tempered demand and a slight correction in lease rates. For us to secure a new tenant at the same rate as a year ago is a real testament to this terminal’s prominence in the area due to its accessibility, size and location off of the heavyweight corridor and stone’s throw from the Elizabeth Port.”
