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CBRE Renews Lease With Refrig-IT At Kearny Point Industrial Park

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LEASED
$66
Chad Hillyer
Thomas "Tom" Carragher
+ 3

New Jersey

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Industrial228,213 SF
Leased 08/07/2023
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LEASED

CBRE Renews Lease With Refrig-IT At Kearny Point Industrial Park

50 Campus Dr Kearny, Nj 07032, Usa

See Similar Deals
Industrial228,213 SF
Leased 08/07/2023
Chad Hillyer
Thomas "Tom" Carragher
+ 3
Contact now

Summary

NEW JERSEY
Asset Type:Industrial
Price Per Square Foot:$66
Total Square Footage:228,213 SF
Transaction Type:Lease

Hugo Neu Corp. has completed lease renewals with Refrig-IT at Kearny Point Industrial Park in Kearny. The industrial property, located at 50 & 80 Campus Drive, offers a total space of 228,213 square feet. The strategic location of the park near Port Newark and New York City makes it an ideal choice for Refrig-IT, a cold storage warehousing company.

Summary of transaction details

  • Property Type: Industrial
  • Transaction Amount: Not specified
  • Address: 50 & 80 Campus Drive
  • Market: Kearny

The lease agreement was facilitated by CBRE, with Kevin Dudley, Chad Hillyer, Nicholas Klacik, and Kate Granahan representing the landlord, Hugo Neu Corp. On the other hand, Tom Carragher and Justin Rigoglioso from Newmark served as the tenant's representatives during the negotiation process. The lease renewal at Kearny Point Industrial Park highlights the value of the property's location and amenities, providing Refrig-IT with continued access to the bustling Port Newark and the lucrative New York City market.

Players

Kevin Dudley
22 deals$174.8M volume
BROKER

Thomas "Tom" Carragher
Newmark
3 deals
BROKER

Nicholas (Nick) Klacik
CBRE
15 deals$96.3M volume
BROKER

Chad Hillyer
CBRE
15 deals$96.3M volume
BROKER

Kate Granahan
CBRE
15 deals$117M volume(484) 695-7214
BROKER

Details

LEASED
IMAGE: Tom Carragher, Justin Rigoglioso, Kevin Dudley, Chad Hillyer, Nicholas Klacik & Kate Granahan DATE: 08/07/2023 ADDRESS: 50 & 80 Campus Drive MARKET: Kearny ASSET TYPE: Industrial LANDLORD: Hugo Neu Corp. - Steve Nislick TENANT: Refrig-IT LANDLORD'S REP: Kevin Dudley (@KevstudleyDudley), Chad Hillyer (@Chad_Hillyer) , Nicholas Klacik & Kate Granahan - CBRE (@CBRE) TENANT'S REP: Tom Carragher & Justin Rigoglioso - Newmark (@Newmark) ASKING RENT: $66/ft. ~ SF: 228,213 NOTE: CBRE completed lease renewals with Refrig-IT at Kearny Point Industrial Park in Kearny. The cold storage warehousing company renewed two spaces, totaling 228,213 square feet, highlighting the park's strategic location near Port Newark and New York City.

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Deal Type
Effective Rent (Annual)

$17,266,961.51

Total Lease Value

$172,669,615.09

Net Landlord Cash Flow$17,266,961.51