Crow Holdings Industrial, the industrial development company of Crow Holdings, has acquired a 126-acre property in Carteret, New Jersey from Rahway Arch Properties with plans to break ground this summer on a three-building, 1.2-million-square-foot speculative development.
Crow Holdings tapped Stan Danzig, Jules Nissim and Kim Bach of Cushman and Wakefield to lease the space.
Located in Northern New Jersey, one of the country’s most land-constrained markets for industrial development, the property will bring the region much-needed logistics space in a prime spot just off of Exit 12 of the New Jersey Turnpike. With unprecedented demand for distribution centers in recent years, industrial vacancies have consistently hovered near zero, as occupiers have absorbed new developments as quickly as they have been built.
