Avison Young negotiated a new lease for YesWay Logistics on behalf of a real estate fund advised by Crow Holdings Capital for 252,000 square feet at the Tac-Pal Logistics Center in Palmyra, according to a Tuesday announcement.
“After years of hard work and perseverance, we’re thrilled to finally be able to welcome a top-quality company like YesWay to our community,” Palmyra Mayor Gina Tait said. “Job opportunities and a substantial increase in annual revenue for our residents and taxpayers for decades to come are just a few of the reasons we’re so excited.”
The real estate fund advised by Crow Holdings Capital, the building owner, was represented by Avison Young’s Matthew Marshall, principal, Jim Scott, principal, and Jack Owens, associate, who are based in the firm’s Philadelphia office, and Chuck Fern with Cushman & Wakefield, co-broker on the listing. The tenant, YesWay, was represented by Jason Barton, executive vice president with Cushman & Wakefield in Edison.
“The YesWay Logistics transaction is significant for the Tac-Pal Logistics Center and the borough of Palmyra, as the industrial master-planned development was always envisioned to be a significant source of economic development for the community,” Marshall said.
With state-of-the-art warehousing and fulfillment facilities located at key points within the state of New Jersey, YesWay empowers its partners through a suite of advanced commerce solutions that go beyond mere storage services.
“None of this would have been possible without our redevelopment partners Sansone, and the team at Crow Holdings Capital,” Tait said. “We’re thrilled to be working with them, and we thank them for helping make this a reality.”
