CUSHMAN & WAKEFIELD APPOINTED FOR NEWARK INDUSTRIAL PROPERTY
Team Marketing 41,000-Sq.-Ft. Unit for Lease at Prologis’ Liberty Logistics Center
NEWARK, N.J. – July 11, 2011 – (RealEstateRama) — Cushman & Wakefield, Inc. has been named exclusive leasing agent for Liberty Logistics Center, a 191,000-square-foot industrial property at 158 Mount Olivet Avenue in Newark. Stephen Elman, Jules Nissim and Robert Adams of the commercial real estate services firm’s East Rutherford, N.J., office are handling the assignment on behalf of Prologis, the building’s owner. The team currently is marketing a 41,000-square-foot availability.
Constructed in 2008, Liberty Logistics Center features warehouse/distribution accommodations with 36-foot clear ceilings, 52-foot by 55-foot column spacing, six tailgates with levelers, a 120-foot truck court, an ESFR sprinkler system and T-5 lighting. The available unit is built out with 1,700 square feet of office space and includes secure parking.
“The Newark market contains few options for a smaller industrial user to secure space of this caliber,” Elman noted. “The building offers all the bells and whistles of modern warehousing and distribution in a port location. Our team enjoys a long relationship with Prologis, which has an established reputation as a responsive owner of quality industrial properties. Liberty Logistics Center lives up to the firm’s traditionally high standards.”
Liberty Logistics Center sits on 9.5 acres just off Exit 14 of the NJ Turnpike and Route 1&9, close to Liberty International Airport and Port Newark/Elizabeth. The property is located in an Urban Enterprise Zone, which provides a number of tax benefits and incentives.
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