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Crow Holdings Industrial Plans 1.2M-SF Spec Project Near NJ Turnpike
Crow Holdings Industrial has acquired a prime 126-acre property in Carteret, NJ from Rahway Arch Properties, with plans to break ground this summer on a three-building, 1.2-million-square-foot speculative development. The industrial development arm of Crow Holdings tapped Cushman & Wakefield’s Stan Danzig, Jules Nissim and Kim Bach to lease the space.
Located near Exit 12 off the New Jersey Turnpike, the property spent much of the 20th century operating as a historic industrial location for several manufacturing companies. Over the past decade, the property underwent environmental remediation through the leadership of Rahway Arch.
“Several years into the transformation of the industrial real estate industry, developable land has become scarce in this region, and a parcel of this size on the Turnpike presents a very compelling opportunity,” said Clark Machemer, senior managing director of Crow Holdings Industrial.
The three buildings will range in size from 335,000 to 480,000 square feet.
- ◦Development
