Crow Holdings Breaks Ground on 1.2M-SF Spec Industrial in Carteret
Crow Holdings Development broke ground on Carteret Crow Holdings, a 126-acre property in Carteret, NJ, that will include three buildings and 1.2-million-square-foot of speculative development. Cushman & Wakefield’s Stan Danzig, Jules Nissim and Kim Bach will lease the space.
Located in Northern New Jersey, among the most land-constrained markets for industrial development, the property will bring the region logistics space in a prime spot near Exit 12 of the New Jersey Turnpike. With the unprecedented demand for distribution centers in recent years, industrial vacancies have consistently hovered near zero.
“Logistics and industrial real estate development continue to be economic drivers for any region, especially with the growth of e-commerce from consumers and importance of supply chain management for companies – and especially in Carteret, where a parcel of this size on the Turnpike presents a very compelling opportunity,” said Clark Machemer, Crow Holdings Development’s senior managing director for the Northeast region.
- ◦Development
