Cushman & Wakefield Inks Two Leases for The Morris Companies
Long-Term Commitments Mark Lease-Up of Linden, N.J., Industrial Property.
- Newark, NJ (1888PressRelease) January 22, 2011 - Commercial real estate services firm Cushman & Wakefield, Inc. has announced two tenant commitments that mark the successful lease-up of 55 Wildcat Way in Linden. The Morris Companies owns the newly constructed, 385,000-square-foot industrial property, which now is fully occupied by JFC International, Inc. and Horizon Logistics.
Cushman & Wakefield's Stephen Elman, based in the firm's East Rutherford, N.J., office, and former Cushman & Wakefield broker Noah Balanoff headed the team that served as exclusive leasing agent for 55 Wildcat Way.
JFC International, a leading distributor of quality Asian food products, leased 203,000 square feet at the property. Headquartered in Los Angeles, the company relocated its regional operation from Brooklyn to Linden in an expansion move. Bill Waxman, Mindy Lissner and Masahiro Tanaka of CBRE served as tenant brokers in the long-term deal.
Horizon Logistics, a third-party logistics and warehouse company, leased 182,000 square feet at 55 Wildcat Way and relocated to the property from Elizabeth, N.J. Chris Hile of Jones Lang LaSalle represented Horizon in the long-term expansion move.
"Both tenants were drawn to this property because it offers brand-new, state-of-the-art distribution space with proximity to Port Newark, the NJ Turnpike and Liberty International Airport," Elman noted. "This quality and location, combined with The Morris Companies' reputation as a responsive, competitive landlord, positioned 55 Wildcat Way as one of the most appealing opportunities in the Port Region."
The 55 Wildcat Way leases are the latest in a series of transactions Cushman & Wakefield's East Rutherford industrial team has completed on behalf of The Morris Companies during the past 18 months. Other highlights include the sale of 174 Delawanna Ave. in Clifton; Driscoll Foods, New Jersey's largest independent food service company, purchased the 217,000-square-foot property. Additionally, the team orchestrated a 230,000-square-foot, full-building lease to a global manufacturer at The Morris Companies' 261 River Road in Clifton.
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