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The world’s third-largest transportation and logistics company has signed a lease for the entire 355,000-square-foot building at Raven Holdings In Carteret. DSV Global Transport and Logistics has leased 300 Salt Meadow Road, becoming the second occupant of Crow Holdings Development’s new 1.2 million-square-foot industrial park near Exit 12 of the New Jersey Turnpike.
Cushman & WakefieldThe firm’s Jules Nissim, Stan Danzig and Kimberly Bach negotiated the transaction as exclusive leasing agent for Crow Holdings in Carteret; Mindy Lissner of Cushman & Wakefield represented the tenant.
DSV, headquartered in Denmark with more than 1,600 offices and logistics facilities worldwide, will serve household-name customers from the Carteret branch. Plans call for expansion of the building’s existing office space and professional fit-out, including 100,000 square feet of cold-store capacity.
Josh Summers, president of DSV North American Solutions, said, “We are pleased to have chosen to build this new facility in Carteret. It will more than double our footprint in the region and allow us to leverage our already extensive capabilities there. Crow Holdings Development’s property is an ideal choice, and one that we believe demonstrates our commitment to growth for our customers.”
Clark Machemer of Crow Holdings Development said DSV’s selection of Crow Holdings’ Carteret site provided a clear rationale for the project. “We are honored to have this global leader in transportation on board,” he said. “DSV has been active in the market – and they left no stone unturned in their site selection process. This is a strong testament to the success of our park and the Borough of Carteret in fostering a business-friendly environment.”
With DSV’s lease, Crow Holdings in Carteret is approaching 50% occupancy, and interest continues. Cushman & Wakefield is marketing a remaining 479,700-square-foot whole-building opportunity, as well as a 146,400-square-foot partial-building space.
According to Nissim, the property’s convenient location in the Grand Harbor market and move-in ready status are factors that are attracting high-end tenants to Crow Holdings at Carteret. “Long-term efficiency and speed to move-in are top priorities for DSV, and this campus easily meets those requirements,” he said. “Coupled with a top-notch development team, this is truly a standout in the market.”
Crow Holdings’ 126-acre campus in Carteret is located just 13 miles from the Port of Newark-Elizabeth Marine Terminal, providing convenient access to ocean and air freight, major arterial roads, and major New York City border crossings. It is well suited for multiple uses and benefits from a 30-year PILOT agreement for long-term tax rate stability. The campus also houses the regional distribution operations of Weida Freight Systems and has received multiple industry honors since its launch.
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