New York & Tri-State CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
Prologis Inks the RealReal to Fulfillment Center Deal
Prologis has signed The RealReal to a full-building industrial lease of 492,276 square feet at 950 Convery Blvd. in Perth Amboy, NJ. The online luxury consignment brand will house a new Northeast fulfilment center at the property, which joins RealReal warehouses in Secaucus, NJ and Brisbane, CA.
A CBRE team of Thomas Monahan, Stephen D’Amato, Larry Schiffenhaus, Anastasia Lazarides and Gerard Monahan negotiated on behalf of Prologis. Shannon D. Aja of NKF and Frank Recine, formerly of NKF, represented The RealReal.
“The RealReal required warehousing space in a central location to meet its very specific and rapidly growing distribution requirements,” said Recine, now with JLL.
CBRE vice chairman Thomas Monahan said the Prologis property was “ideal for the online retailer offering 36’ ceiling height, 86-dock doors, parking for 342 vehicles and 127 trailers, all in an accessible location with access to labor.” The RealReal recently completed a $115-million fundraising.
For comments, questions or concerns, please contact Paul Bubny
- ◦Lease
