Monday, March 25, 2013

Premier Motor Lines Leases 97,000 SF

Third-party logistics and warehousing company Premier Motor Lines, Inc. has signed a lease for 97,453 square feet at Port Jersey Logistics, located at 2 Colony Rd. in Jersey City, NJ. 

The 262,000-square-foot warehouse building was completed in 1976 on 11.5 acres in the Hudson Waterfront Industrial submarket. It features 24-foot ceilings, 600-amp heavy power, nine loading docks, 40 trailer parking spaces, and two active rail spots. The building is convenient to the Turnpike, Rte 78, Newark Liberty International Airport and the Ports of Newark and Elizabeth. 

Premier offers food-grade warehousing, brokerage, and private fleet services to New Jersey, Pennsylvania, New York and New England. 

"We were able to lease the building at a strong market rent with only one month of vacancy," said Matthew Corpuel, first vice president at CBRE. "That really speaks to the strength of the port industrial market. Additionally, the tenant was able to phase in to the building, thus avoiding double rent at their current location."

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