CARTERET, NJ—New York Popular, a manufacturer and wholesaler of apparel, received a $9.8 million Grow New Jersey incentive package that helped it decide to purchase 400 Federal Boulevard, a 55,560-square-foot industrial property in Carteret, NJ instead of moving operations to Norfolk, VA.
Leo Esses, senior vice president of Bussel Realty Corporation, represented the buyer, which paid $5.143 million for the property, previously owned by 400 Federal Boulevard, LLC.
New York Popular, previously headquartered in Brooklyn, decided to move production and distribution activities to reduce operating costs, according to the Grow New Jersey application made public by the New Jersey Economic Development Authority.
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