CBRE has completed two lease renewals with Refrig-IT at 50 & 80 Campus Drive in the Kearny Point Industrial Park in Kearny, according to a Friday announcement.
The cold storage warehousing company committed renewals of a 90,241-square-foot space and a 137,972-square-foot space at the property owned by Hugo Neu Corp. It has been operating out of the park since 1993.
The CBRE team of Kevin Dudley, Chad Hillyer, Nicholas Klacik and Kate Granahan represented ownership, while Tom Carragher and Justin Rigoglioso of Newmark represented Refrig-IT.
“The Kearny Point Industrial Park offers proximity to Port Newark and New York City,” Dudley said. “The lease renewal with Refrig-IT is a testament to the relationship between both parties and overall market fundamentals.”
Easily accessible via car or public transportation, Kearny Point is less than five miles to Jersey City, Newark, Hoboken and the Lincoln/Holland tunnels. The site was previously known as the Federal Shipbuilding & Drydock Co. and served as the Navy’s fastest ship-building location in the world during World War II.
In 2016, longtime owner Hugo Neu Corp. initiated a design and engineering program to convert the 130-acre, 2 million-square-foot Kearny Point Industrial Park into a modernized, mixed-use commercial campus. The transformation preserved and improved the existing industrial buildings and warehouses, many of which are historic.
The redevelopment has attracted a wide variety of tenants, including businesses in need of office, flex, light manufacturing and industrial space, among others. Today, Kearny Point is a hub for a wide variety of innovation companies, including companies that share Hugo Neu’s commitment to environmental sustainability and decarbonization. Kearny Point continues to serve as a great location for third-party logistics providers, construction management, sound stages and startups, providing businesses room for growth within a visually unique, forward-looking, environmentally focused community.
“We offer a unique community and array of modern amenities that benefit businesses and also advance our mission,” Steve Nislick, chief financial officer of Hugo Neu, said. “Kearny Point’s unique mix of amenities, infrastructure and vibrant architecture make it functional and fashionable, delivering high-quality and healthy workspaces at reasonable monthly rates.”
