Search
 

Management Firm Leases 88,000 SF

JERSEY CITY-Elite Management Services will use the warehouse space for fulfillment and back-office operations.

By Eric Peterson | Updated on November 17, 2008

JERSEY CITY-Elite Management Services Group Ltd. is signing a lease for 87,914 square feet at 111 Port Jersey Blvd., a 176,600-square-foot warehouse building here. Owned by Rreef Alternative Investments, the building is situated within the multi-million-square-foot Port Jersey Logistics Center.

Brokers from CB Richard Ellis represented both sides in the transaction. First VP Nick Nitti and SVP William Waxman spoke for the landlord, and vice president Matthew Corpuel represented the tenant. Terms were not disclosed, although availabilities in the adjacent 112 Port Jersey Blvd. are currently listed with an asking price of $5.25 per square foot. The Chicago-based Rreef bought both buildings adding up to more than 415,000 square feet in mid-2006 for an undisclosed price and currently owns more than two million square feet within the park.

The Brooklyn, NY-based Elite Management Services, which provides third-party fulfillment and back office operations, will use the space for those particular functions. The signing also involves a relocation for the company’s operations that had been situated in Edison, NJ, about 20 miles to the south.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.