Peter Corcoran, vice president, New Jersey office, Liberty Property Trust

WOODBRIDGE TOWNSHIP, NJ—Liberty Property Trust has fully leased 19 Crows Mill Road, a 302,500 square-foot predominantly vacant property it acquired in late September of last year in Keasbey, an unincorporated section of Woodbridge, NJ.

“Liberty's acquisition and immediate long-term leasing of 19 Crows Mill Road deepens our presence along the New Jersey Turnpike continuing our strategy to acquire and hold high-demand industrial properties in the region,” says Peter Corcoran, vice president of leasing and development for Liberty's New Jersey office.

The Gilbert Company has signed a long-term lease for the 25-acre property, which features extensive trailer storage and 180 dock doors, and is strategically located minutes from Exit 10 of the New Jersey Turnpike with access to Port Newark/Elizabeth and New York City.

Cushman & Wakefield's Charles Fern, Gary Casaletto, Jason Barton, Thomas D. Tucci, and Stephen Shoemaker represented Liberty in the lease negotiations.

“With this acquisition Liberty has nearly doubled its footprint in Central and Northern New Jersey in the last 13 months with the acquisition of four properties totaling approximately one million square feet,” Corcoran says. “Liberty entered the market in 2013 with the acquisition of three properties at Exit 8A and has since expanded its holdings up through the Meadowlands for a total of ten properties representing 2.2 million square feet.”

In August 2018, Liberty purchased a seven-acre site less than five miles from Port Newark for redevelopment. The site, located at 357 Wilson Avenue in Newark, includes an existing building that Liberty plans to raze and replace with a 142,972 square foot industrial building.

The new property will feature 40-foot clear heights, 27 loading doors, 88 car and 16 trailer parking spaces. Fern, Tucci, and Shoemaker of Cushman & Wakefield will be responsible for leasing the building on Liberty's behalf.