950 Convery Boulevard, Perth Amboy, NJ
PERTH AMBOY, NJ—The RealReal, the authenticated luxury online consignment brand, has signed a 492,276-square-foot industrial lease at 950 Convery Boulevard in Perth Amboy, NJ. The RealReal will house a new Northeast fulfilment center in the entire industrial property owned by Prologis.
The CBRE team of Thomas Monahan, Stephen D'Amato, Larry Schiffenhaus, Anastasia Lazarides and Gerard Monahan negotiated the lease transaction on behalf of Prologis. Shannon D. Aja of Newmark Knight Frank and Frank Recine, formerly of NKF, represented The RealReal.
“The RealReal required warehousing space in a central location to meet its very specific and rapidly growing distribution requirements,” says Recine.
“950 Convery Boulevard was ideal for the online retailer, offering 36-foot ceiling heights, 86-dock doors, parking for 342 vehicles and 127 trailers, all in an accessible location with access to labor,” says Monahan, a CBRE vice chairman. “The building will serve as its third fulfillment center in the United States, in addition to warehouses in Secaucus, NJ, and Brisbane, CA. The company also plans to create another 800 jobs in New Jersey, which will be a tremendous addition to the local economy.”
Launched in 2011, The RealReal has permanent stores in New York's SoHo neighborhood and West Hollywood in Los Angeles. The retailer recently completed a Series G round of financing totaling $115 million that will allow the company to continue its growth.
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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].
