The Metz Industrial Group of Bussel Realty Corp. closed three leasing transactions totaling 52,207 square feet of industrial space and five acres of outside industrial storage and parking in Newark and Jersey City.
The Metz Industrial Group is comprised of Jordan Metz, senior vice president, Ben Abbate, senior associate, and James Friel, sales associate.
MIG leased 38,207 square feet at 320 Elizabeth Avenue in Newark to My Flowers USA Inc. MIG represented the landlord, RHS Realty Group, and My Flowers USA Inc. was represented by NJR Group LLC.
“We pulled the rare two-for-one ‘tenant space exchange’ at 320 Elizabeth Avenue,” Metz said. “My Flowers identified the property and quickly determined it would meet all of their specific needs. They initially leased 26,007 square feet of space. Just as we were finishing the lease, an adjacent tenant advised that they were open to downsizing a portion of their space. My Flowers quickly locked in the opportunity to accommodate their anticipated growth, which increased the total area leased to 38,207 square feet.”
MIG subleased 14,000 square feet and two acres of outside industrial storage and parking at 125 James Avenue in Jersey City to Overnight Freight Inc. MIG represented Overnight Freight and CBRE represented the sublandlord, Staples Inc.
“This transaction exemplifies MIG’s expert pulse on the market and robust tenant representation services that results in the site selection success expected by our clients,” Metz said. “In delivering the ideal site, which is a functional truck terminal with two acres of IOS land for parking a fleet of trucks or storage in an asset class with minimal vacancy in the region, to Overnight Freight, we were able to close on a deal that was a win-win-win for all parties involved.”
MIG leased three acres of outside industrial storage and parking at 150 Pacific Street in Jersey City to an undisclosed transportation and warehouse services firm. MIG represented the landlord, Neu Holdings Corporation, in the transaction.
“The industrial outdoor storage sector has seen rapid growth in recent years, driven by the increasing demand for strategically located parking/outdoor storage sites,” Metz said. “150 Pacific Avenue offers a prime location just minutes to the Holland Tunnel and New York City markets. We are currently marketing an additional two acres of IOS space and 176,132 square feet of warehouse space at the property.”
