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Highly Anticipated, 1.2 MSF W/D Property Completed in 18 Months
CARTERET, N.J. (Aug. 9, 2023) — Crow Holdings Development has announced the completion of its Crow Holdings at Carteret campus, closing an 18 months-to-market development cycle. The world-class, 1.2 million-square-foot warehouse/distribution property sits on 126 acres less than ½ mile (one traffic light) off Exit 12 of the New Jersey Turnpike.
Three buildings – at 300, 400 and 500 Salt Meadow Road – are ready for occupancy; they are being marketed for lease by a New Jersey-based Cushman & Wakefield team headed by Stan Danzig, Jules Nissim and Kimberly Bach.
“At a time when the efficient movement of goods is invaluable, Crow Holdings at Carteret boasts the closest turnpike interchange access of any new industrial product constructed within the past decade and provides ease of access to major thoroughfares and key NYC crossings,” Nissim noted. “And with a development team highly in tune with the needs of occupiers and eager to support clients’ success, this property is coming online with a distinct competitive advantage.”
Located just 13 miles from the Port Newark-Elizabeth Marine Terminal, Crow Holdings at Carteret offers full-building opportunities from 335,000 to 480,000 square feet, with availabilities starting at 150,000 square feet. The property has a combined 299 trailer parking spots, 174 dock doors with fully equipped loading docks, and six drive-in ramps.
Featuring pre-built offices and 40-foot clear ceiling heights, Crow Holdings at Carteret is perfectly suited for a variety of uses. All property elements are constructed well above the post-Superstorm Sandy 100-year flood elevation.
“We are incredibly proud of this thoughtfully designed and executed campus,” said Crow Holdings Development’s Clark Machemer, senior managing director. “Its successful delivery is a credit to public/private partnership. Carteret is a pro-business municipality that recognizes development as an economic stimulant and catalyst for growth.” To that end, Crow Holdings at Carteret has an in-place, 30-year PILOT agreement enabling long-term tax rate stability.
Crow Holdings at Carteret is more broadly situated in the heart of one of the country’s most sought-after industrial markets, which over the past decade has been driven by a rise in e-commerce and logistics demand. The Greater Port Region’s year-end 2022 vacancy sat at a historically tight 3.6%, according to Cushman & Wakefield research.
Crow Holdings Development (CHD) is the development platform of Crow Holdings, a privately owned real estate investment and development firm with 75 years of history, $29 billion of assets under management, and an established platform with a vision for continued success. CHD specializes in multifamily, industrial and office development across high-opportunity markets in the United States. Led by a highly experienced leadership team, the firm has developed more than 45 million square feet of industrial space since 2013.
About Crow Holdings at Carteret
300, 400 and 500 Salt Meadow Road, Carteret, N.J.