The Metz Industrial Group of Bussel Realty Corp. represented Seagis Property Group in two industrial transactions totaling 31,708 square feet, leasing the entirety of 27 Engelhard Ave. in Avenel and Unit 3 at 1001 Roosevelt Ave. in Carteret.
MIG leased 5,708 square feet at 1001 Roosevelt Ave., a 93,286-square-foot industrial property, to Revenant Logistics, and 26,000 square feet at 27 Engelhard Ave. to ZEMS Logistics.
The Metz Industrial Group comprised of Jordan Metz, senior vice president, Ben Abbate, senior associate, and James Friel, sales associate, represented the landlord and Revenant Logistics in the transactions. ZEMS Logistics was represented by Galaxy Fortune Realty.
“These two recent leases are demonstrative of the current trend we are seeing, in which smaller facilities (50,000 square feet and under) are outperforming the greater market from all metrics: lease-up time, rental rates and concessions,” Metz noted. “We continue to have a bullish outlook on the fundamental strength of the Exit 12 region, and, as tenant demand continues to trickle back into the market, we expect vacancy rates to begin slowly compressing in the coming quarters.”
1001 Roosevelt Ave. in Carteret is located near the New Jersey Turnpike, Route 1&9, Port Newark/Elizabeth and Newark Liberty International Airport. Unit 3 of the property features a 751-square-foot office, 23-foot ceilings, two tailboards, 400 to 500 amps of electric power, wet sprinklers and ample parking.
27 Engelhard Ave. in Avenel is located near Route 1&9, the New Jersey Turnpike, Goethals Bridge to Staten Island, New York, as well as Port Newark/Elizabeth and Newark airport. The property features 2,150-square-foot offices, 22-foot ceilings, six tailboards, one drive-in door, wet sprinklers and 17 parking spaces.
ZEMS Inc. is a woman-owned, minority-owned transportation logistics company with over 30 years of combined experience in the shipping industry. Based in Clovis, California, the company’s team of experts specialize in transportation logistics management for small to medium-sized businesses throughout North America.
