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Cushman & Wakefield of New Jersey, Inc.
One Meadowlands Plaza, Suite 1100
East Rutherford, New Jersey 07073
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Release Date: Thursday, February 12, 2015
Media Contact: Evelyn Weiss Francisco (201) 796-7788
168,800-Square-Foot Class A Distribution Center owned by a fund managed by Cornerstone Real Estate Advisers
MOONACHIE, N.J., Feb. 13, 2015 – Commercial real estate services firm Cushman & Wakefield has been named exclusive leasing agent for 115 Moonachie Avenue in Moonachie, New Jersey, a 168,800-square-foot, Class A corporate headquarters and distribution facility located in the Meadowlands.
The firm's East Rutherford, N.J.-based team of Jules Nissim and Stephen Elman are handling the assignment on behalf of the owner, a fund managed by Connecticut-based Cornerstone Real Estate Advisers LLC.
"This is one of the truly Class A availabilities in the tight Meadowlands submarket," said Elman. "With our market research indicating current warehouse/distribution vacancy rates of 8.1% in the Meadowlands and 8.2% in Northern and Central New Jersey, we are anticipating strong demand."
The building's design and layout is flexible to accommodate a single facility user or it can be divided to suit. Its current configuration is three units of 99,000 square feet with 13,000 square feet of office space, and two units of 35,000 square feet with 7,200 square feet and 2,600 square feet of office space in each unit. The 146,437square-foot warehouse has expansive 60-by-70-foot column spacing to accommodate specific tenant layouts, as well as 28-foot clear ceiling height, heavy floor load and a high loading door ratio of 1 per 6,250 square-feet.
Available for occupancy in September 2015, 115 Moonachie Avenue is situated minutes from New Jersey Turnpike Exit 16W and just 10 miles from Port Newark/Elizabeth and Midtown Manhattan.
"The property's strategic Meadowlands location offers curb appeal and a park-like setting, and its proximity to New York is especially advantageous for last mile delivery and e-commerce," Elman said.
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Cushman & Wakefield advises and represents clients on all aspects of property occupancy and investment. Founded in 1917, it has 248 offices in 58 countries, employing more than 16,000 professionals. It offers a complete range of services to its occupier and investor clients for all property types, including leasing, sales and acquisitions, equity, debt and structured finance, corporate finance and investment banking, appraisal, consulting, corporate services, and property, facilities, project and risk management. To learn more, click HERE.
About Cornerstone
Cornerstone Real Estate Advisers LLC, with subsidiary and affiliate offices in the U.S., UK, Europe, and Asia, is one of the largest global real estate investment managers. It provides core and value-added investment and advisory services, including a comprehensive suite of private and public real estate debt, equity and securities expertise and services, to institutional and other qualified investors around the globe. Cornerstone is a member of the MassMutual Financial Group. For more information, visit http://www.cornerstoneadvisers.com/.