Local dignitaries, Carteret Mayor Daniel J. Reiman, industry professionals and stakeholders joined members of the Crow Holdings Development team for a formal ribbon-cutting ceremony of the 1.2 million-square-foot warehouse/distribution property in Carteret.
Attendees had a chance to tour the world-class campus and see firsthand its location benefits of being less than ½ mile (one traffic light) off Exit 12 of the New Jersey Turnpike.
The three-building property at 300, 400 and 500 Salt Meadow Road is ready for occupancy, featuring prebuilt offices and 40-foot clear ceiling heights, as well as a combined 299 trailer parking spots, 174 dock doors with fully equipped loading docks and six drive-in ramps.
“This campus, which has introduced a new, world-class warehouse/distribution opportunity in the heart of the Greater Port submarket, is the result of a strong public-private partnership,” CHD Senior Managing Director Clark Machemer said. “From the start, the borough of Carteret has been a great supporter. This municipality understands that development is an economic stimulant and driver for growth. We thank Mayor Reiman and members of the Carteret borough council and administration for being part of this celebration.”
Reiman cited the borough’s commitment to thoughtful redevelopment for earning its position among the most business-friendly municipalities in New Jersey. Illustrating this point, a 30-year payment in lieu of taxes for Crow Holdings at Carteret provides long-term tax rate stability.
“We are proud to add Crow Holdings Development’s newest state-of-the-art industrial park to the borough’s ever-expanding portfolio of successful redevelopment projects and welcome the national and international business tenants that will soon call Carteret home,” he said. “My administration and the borough of Carteret were excited to work with CHD throughout this brownfield redevelopment and look forward to many years of successful partnership.”
CHD recently announced that third-party logistics provider Weida Freight System Inc. will become the first tenant at the campus via a 188,000-square-foot, long-term transaction at 400 Salt Meadow Road.
The deal was brokered by Cushman & Wakefield’s Jules Nissim, Stan Danzig and Kimberly Bach, who serve as exclusive leasing agents for Crow Holdings at Carteret. The team is currently marketing full-building opportunities of 355,000 and 480,000 square feet, with availabilities starting at 150,000 square feet.