The property asset involved in this transaction is an industrial facility located at 136-158 Paris Street in Newark. The asset encompasses a total square footage of 19,965 and includes 14 dock doors. It is strategically positioned with access to Route 1&9 and the New Jersey Turnpike, enhancing its suitability for high-capacity distribution operations.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: Not disclosed
• Square Footage: 19,965
• Address: 136-158 Paris Street
• Market: Newark
• Landlord: John Begier - Seagis Property Group
• Tenant: Schmidt Baking Distribution LLC
• Landlord's Representative: Chuck Fern - Cushman & Wakefield
• Tenant's Representatives: Matthew Phillips, Rick Vanderbeck & Hugh Nastasi - The Blau & Berg Company

This lease transaction involved Seagis Property Group leasing the facility to Schmidt Baking Distribution LLC, a division of H&S Family of Bakeries. The collaboration is aimed at bolstering the tenant's distribution capabilities across the Northeast region.