Rendering of 429 Delancy Street, Newark, NJ
EAST RUTHERFORD, NJ—The New Jersey office of Duke Realty, a domestic-focused logistics property REIT, has begun construction of a 661,741-square-foot, state-of-the-art bulk warehouse at 429 Delancy Street, just off I-95, I-78 and Routes 1 and 9 in Newark. The building, the largest speculative bulk warehouse currently under construction in Northern New Jersey, is slated for delivery in the fourth quarter of 2019.
“Demand for industrial space in northern New Jersey remains high, resulting in rapidly dwindling availability for companies looking for bulk class A facilities in this premier distribution market,” says Ben Rosen, vice president of leasing and development for Duke Realty in New Jersey. “Our new building will offer tenants a truly unique opportunity to lease a modern bulk distribution facility with unparalleled access to New York City, Port Newark/Elizabeth, Newark Airport and New Jersey's most important arterial highways.”
When complete, Duke Realty's building will be highly visible from Routes 1 and 9 and from I-95/New Jersey Turnpike. At only 20 minutes from New York City and 10 minutes from the largest port on the East Coast and with immediate access to the New Jersey Turnpike, I-78, Routes 1 and 9 and Newark International Airport, the building is ideal for e-commerce, port and air cargo users.
The state-of-the-art, cross-dock building will incorporate 109 dock doors and four drive-in doors, while features inside the building include 40-foot clear height, 55-foot x 44-foot-6-inch column spacing, 66-foot staging bays and LED motion-controlled lighting. 429 Delancy also has the potential for rail service via Conrail.
Duke Realty's New Jersey portfolio currently includes 5.7 million square feet of industrial properties.
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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].
