Bridge's First NJ Spec Warehouse Gets E-Commerce Tenant

 

750 Union Avenue, Union, NJ

UNION, NJ— Boxed .com , a mobile delivery service for wholesale goods, has signed a seven-year, 143,890-square-foot lease at 750 Union Avenue , Bridge Development Partners first New Jersey development, a spec-built industrial warehouse in Union, NJ. Jennifer Ogden , senior director in the New York office of Avison Young , partnered with industrial sector expert Andrew Houston , a vice president with Cushman & Wakefield , to close the transaction. Christopher Hile and Adam Citron of Jones Lang LaSalle represented Bridge in the transaction, with the support of JLL’s industrial team led by Rob Kossar , executive managing director; David Knee , senior managing director, head of industrial brokerage for New Jersey; and Joel Lubin , managing director. “This is our first completed development since we opened a New Jersey office, and as the lease to Boxed.com shows, the building is proving to be highly desirable to warehouse and distribution tenants,” says Bridge principal Jeff Milanaik . “There is a lot of interest in the remaining space, which can accommodate a tenant up to about 120,000 square feet.” The facility will serve as a regional distribution center with additional office space for the tenant, who will now occupy more than 50% of the 263,553-square-foot property. This also represents the third transaction Ogden has negotiated on behalf of Boxed.com , following two earlier office space moves secured for the company in New York City. “The demand for high-quality industrial facilities in this region remains strong, but availability is limited. Avison Young’s experience and market knowledge enabled us to secure space that met all our client’s requirements,” Ogden says. “The 750 Union Avenue property offered the best solution for Boxed . The leading e-commerce company has been experiencing substantial growth and this facility offered an ideal location with the ample space needed to allow them to continue expanding. Boxed is on a mission to deliver the big box club experience to mobile devices, and having a high-quality warehouse center such as 750 Union Avenue is critical to their future success.” “We couldn’t be more excited to move into our new fulfillment center at 750 Union Ave . The larger space will greatly enhance our ability to grow our business and better serve our Boxed customers,” says Rick Zumpano , vice president of distribution at Boxed . Bridge acquired the site in 2014, demolished the vacant buildings, and received signoff from the township for completion of the shell building in May 2016. The new 750 Union Avenue warehouse facility was built on spec and is designed to accommodate up to two tenants. Developed with concrete precast construction, the building has 36-foot clear ceiling height, 55-foot column spacing and a 66-foot staging bay at the loading dock. There are also 150 parking stalls, 22 exterior truck docks, ESFR sprinkler systems, T-5 lighting, and 111 trailer positions. The building is located within six miles of the Port of New Jersey, with direct access via Route 22 and Route 287, and easy access from the Garden State Parkway and I-78. The site offers excellent visibility from both I-78 and the Garden State Parkway, as it sits directly in the northwest quadrant of the interchange.