May 19, 2025 9:00 AM
Newmark announces the company has arranged 425,000 square feet of industrial leases year-to-date, across Northern and Central New Jersey.
Newmark Senior Managing Directors Kyle Eaton and Robert Loderstedt, Managing Director Michael Schipper and Associate Director Haylee McCabe, represented the tenant in each of the lease negotiations.
“This activity speaks to the strength of both the market and our team,” said Eaton. “We continue to see demand from an array of users and our differentiated, partnership-driven approach allows us to deliver tailored solutions across every assignment. With a robust pipeline ahead, we’re optimistic about what the year holds.”
A breakdown of the recent activity, include:
- GMB North America—154,000 square feet at 1804 River Road in Burlington.
- CEVA—150,000 square feet at 40 Enterprise Drive in Hamilton.
- Bay Speed—65,817 square feet at 100 Middlesex Avenue in Carteret.
- Glenmore Plastics—35,000 square feet at 115 Newfield Avenue in Edison.
- Excellent Packaging— 22,000 square feet at 480 Main Street in Wallington.
The momentum follows a banner year for the team, which completed more than 5.2 million square feet of industrial leasing, across 40 transactions in 2024. Notable assignments included the nearly 1 million square feet for Logistics Plus in Millstone; 371,000 square feet for LA Enterprises in Monroe; 337,000 square feet for Supply House in Dayton; and 326,000 square feet for Supply One in North Arlington, among others.
According to Newmark Research, Northern New Jersey closed the fourth quarter of 2024 with over 800,000 square feet of positive net absorption, despite rising vacancy and broader economic headwinds. Leasing volume surged to 8.7 million square feet, led by third-party logistics and retail occupiers. Class A warehouse space accounted for more than half of total activity, reinforcing the flight-to-quality trend that continues to shape the market.
About Newmark
Newmark Group, Inc. (Nasdaq: NMRK), together with its subsidiaries (“Newmark”), is a world leader in commercial real estate, seamlessly powering every phase of the property life cycle. Newmark’s comprehensive suite of services and products is uniquely tailored to each client, from owners to occupiers, investors to founders, and startups to blue-chip companies. Combining the platform’s global reach with market intelligence in both established and emerging property markets, Newmark provides superior service to clients across the industry spectrum. For the twelve months ended March 31, 2025, Newmark generated revenues of over $2.8 billion. As of March 31, 2025, Newmark and its business partners together operated from 165 offices with approximately 8,100 professionals across four continents. To learn more, visit nmrk.com or follow @newmark.
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