The property asset involved in this transaction is a 6.94-acre industrial site located at 449 Doremus Avenue in Newark. The site provides approximately 30,000 square feet of warehouse space featuring 40-foot clear heights and extensive outdoor storage. It has been repositioned through development by Deugen Investment Group and Devli Real Estate to support next-generation logistics and port-centric industrial operations.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: Not disclosed
• Address: 449 Doremus Avenue
• Market: Newark
• Landlord: Deugen Investment Group & Devli Real Estate
• Tenant: Garden State Cold Storage & Ruggiero Seafood Inc
• Landlord's Representative: The Blau & Berg Company
• Tenant's Representative: Anthony Rittwager - Advance Industrial Group

Advance Industrial Group facilitated the leasing of the site to Garden State Cold Storage and Ruggiero Seafood, enhancing Newark's capacity for logistics in the region. The deal is particularly significant as it supports Garden State Cold Storage’s upcoming 156,000-square-foot, AI-driven cold-storage facility.