ELIZABETH, NJ−Hartz Mountain is looking to lease its 508,000-square-foot property at Port Elizabeth that it has owned since the 1980s, but which only recently gained rail access.
With new 1000-foot double track rail siding, the building at 201 Bay Avenue becomes one of the only buildings in the port district that has a private connection for industrial transport to nearby APM Terminal, Maher Terminal and Port Newark Container Terminal.
This is only the second time the 201 Bay Avenue building at the container port – the largest in the US - has come available for lease since Hartz acquired it.
The area around the port – the largest container port in the US – is currently an extremely hot industrial market, in anticipation of the much bigger vessels that will soon be unloading at the port as the widened Panama Canal and rai
“This is once-in-a-generation opportunity for the right tenant to get into a warehouse space that is so dynamic it can change their business,” said Ernest A. Christoph, Hartz's vice-president for sales and leasing.
Hartz has already made speculative upgrades to the property, including increasing the floor load to 500 pounds per square foot, repainting the façade, and providing upgrades to the interior. The building has ceilings heights ranging from 26-feet, 6 inches to 30-feet, 6 inches, and a 50-door loading dock.
201 Bay Ave., situated just off Exits 13A and 14 of the New Jersey Turnpike, close to Newark Liberty International Airport and Route 1 & 9, is one of only a few privately-owned properties remaining in the district.
The site lies within an Urban Enterprise Zone, so its tenant is eligible for myriad incentive programs offered by the New Jersey Economic Development Authority which are available to businesses located in New Jersey or those relocating to the state. The incentives were streamlined and also made more generous and easier to qualify for last year in a major overhaul of state programs.
Headquartered in Secaucus, Hartz Mountain owns and manages one of the largest privately held real estate portfolios in the United States. It is one of a few major developers with in-house departments for leasing, management, finance, acquisition, architecture, construction, development and planning, across the field of real estate asset classes.
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