Newmark Secures New Distribution Facility for Creative Technology 

Newmark has secured a new 46,000-square-foot industrial lease for Creative Technology, a global provider of technical solutions for the event, experiential and installation markets, at 60 Metro Way in Secaucus, New Jersey. The long-term lease marks the firm’s first outpost in New Jersey, as it accommodates the company’s growth over the past three years since joining NEP Group. The space includes warehouse and office components with loading docks and a drive-in. Newmark’s David Simson and Dan Reider represented the tenant in the lease transaction.  

Northern New Jersey industrial leasing remained strong through the fourth quarter of 2022, with net absorption totaling 2,956,154 square feet, bringing the year-to-date total to 12,241,767 square feet. Despite a slight increase in vacancies, the submarket closed the year with a 2.8% vacancy rate, 30 basis points below the fourth quarter of 2021, according to Northern New Jersey Market Reports recently published by Newmark.