RIDGEFIELD, NJ—Third-party logistics firm KW International has expanded its New Jersey footprint with an 83,000-square-foot industrial lease at 2 Bell Drive in Ridgefield, NJ. Colliers International Group represented the Carson, CA-based company in negotiating its long-term commitment at the Sitex Group property.
Colliers' Mike Markey and Jon Tesser, of the firm's Princeton, NJ, office, and Reid Wilbraham, based in Los Angeles, headed the transaction. Cushman & Wakefield's Stephen Elman served as landlord broker.
“The Ridgefield property is earmarked for one of KW International's major customers and signals the company's continued growth regionally,” Markey says. “The search, itself, was confined to a relatively small geographic area. Our client needed a modern, class A building ready for immediate occupancy, and preferred new construction. In the current tight market, it was challenging to meet all of these requirements, but we were able to check off all the boxes at the Sitex Group property.”
In fact, the timing of Sitex Group's delivery of 2 Bell Avenue, which the firm developed on spec, enabled KW International to begin moving product in immediately upon execution of the lease, says Markey. Sitex Group, which specializes in industrial real estate investment and property management, in recent years has been among the most active buyers of industrial space and land in New Jersey.
KW International provides logistics management services domestically and internationally. The company maintains operations in Korea, Mexico and key markets nationwide, including an additional New Jersey distribution facility in Little Ferry. Colliers maintains a long-term relationship with the organization.
RIDGEFIELD, NJ—Third-party logistics firm KW International has expanded its New Jersey footprint with an 83,000-square-foot industrial lease at 2 Bell Drive in Ridgefield, NJ. Colliers International Group represented the Carson, CA-based company in negotiating its long-term commitment at the Sitex Group property.
Colliers' Mike Markey and Jon Tesser, of the firm's Princeton, NJ, office, and Reid Wilbraham, based in Los Angeles, headed the transaction. Cushman & Wakefield's Stephen Elman served as landlord broker.
“The Ridgefield property is earmarked for one of KW International's major customers and signals the company's continued growth regionally,” Markey says. “The search, itself, was confined to a relatively small geographic area. Our client needed a modern, class A building ready for immediate occupancy, and preferred new construction. In the current tight market, it was challenging to meet all of these requirements, but we were able to check off all the boxes at the Sitex Group property.”
In fact, the timing of Sitex Group's delivery of 2 Bell Avenue, which the firm developed on spec, enabled KW International to begin moving product in immediately upon execution of the lease, says Markey. Sitex Group, which specializes in industrial real estate investment and property management, in recent years has been among the most active buyers of industrial space and land in New Jersey.
KW International provides logistics management services domestically and internationally. The company maintains operations in Korea, Mexico and key markets nationwide, including an additional New Jersey distribution facility in Little Ferry. Colliers maintains a long-term relationship with the organization.
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Steve Lubetkin
Steve Lubetkin is the New Jersey and Philadelphia editor for GlobeSt.com. He is currently filling in covering Chicago and Midwest markets until a new permanent editor is named. He previously filled in covering Atlanta. Steve’s journalism background includes print and broadcast reporting for NJ news organizations. His audio and video work for GlobeSt.com has been honored by the Garden State Journalists Association, and he has also been recognized for video by the New Jersey Chapter of the Society of Professional Journalists. He has produced audio podcasts on CRE topics for the NAR Commercial Division and the CCIM Institute. Steve has also served (from August 2017 to March 2018) as national broadcast news correspondent for CEOReport.com, a news website focused on practical advice for senior executives in small- and medium-sized companies. Steve also reports on-camera and covers conferences for NJSpotlight.com, a public policy news coverage website focused on New Jersey government and industry; and for clients of StateBroadcastNews.com, a division of The Lubetkin Media Companies LLC. Steve has been the computer columnist for the Jewish Community Voice of Southern New Jersey, since 1996. Steve is co-author, with Toronto-based podcasting pioneer Donna Papacosta, of the book, The Business of Podcasting: How to Take Your Podcasting Passion from the Personal to the Professional. You can email Steve at [email protected].
