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AMB Gains Three Tenants for 183,000 SF

NEWARK, NJ-Mimco.com takes 75,000 sf Liberty Logistics Center, Target preleases 69,000 sf at Portview Commerce Center, and AMCO takes 39,000 sf at Highway 17.

By Brianne Harrison | Updated on May 22, 2008

NEWARK, NJ-AMB Property Corp. has preleased 183,000 sf in three of its logistics properties in the port area. The company would not disclose rental rates or lease terms, but comparable space in the area typically leases for between $5 and $7 dollars per sf.

AMB Liberty Logistics Center, a former brownfield site on the west side of Newark Liberty International Airport, saw the largest lease, when Mimeo.com took 75,000 sf. The 191,000-sf, nine-acre property was completed in March 2008. The site, which once housed a pharmaceutical plant, underwent extensive remediation after AMB acquired it in 2006. The building incorporates steel, bricks and concrete from the previous structures on the property and includes several sustainable features, such as precast panels for insulation that help make the building more energy efficient.

In addition to its proximity to the airport, Liberty Logistics Center is only two miles from Port Newark/Elizabeth and has direct access to I-78. According to AMB, this is the first major new distribution center to be built in this submarket since 2006. Robert Kossar and David Knee, executive vice presidents of Jones Lang LaSalle, and vice president Chris Hile are the exclusive leasing agents for the property.

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