Newmark announced a 71,000 s/f lease renewal and expansion for print and direct mailing company LOGON at 629 Grove Street in Jersey City, NJ.
The company has been located at the property – known as the Lackawanna Warehouse Building – since 2004.
LOGON has renewed its existing 41,000 s/f space and added 30,000 s/f to its footprint. Newmark’s Managing Director Dan Reider, Associate Director Justin Pollner and Associate John Crawford represented the tenant.
Manhattan-based LOGON is a print and mailing company whose clients include Fortune 500 companies, finance, fine arts, beauty brands, and non-profit entities. The company has been serving various markets for over 30 years, delivering direct mail, digital print, fulfillment, and wide format signage services. LOGON has been operating out of its Jersey City site for the past 17 years, with this most recent expansion to accommodate its growing business needs.
“The area’s industrial market has continued to see a surge in demand from producers and distributors,” said Reider. “Our team is thrilled to have worked with LOGON. It’s always a good feeling helping a local business expand and grow within the region, and we believe that the increased space will help them meet the needs of their clients as they continue to grow and thrive.”
According to Newmark Research, the Northern New Jersey industrial market fundamentals improved in all categories during the second quarter of 2021. New leasing caused vacancy to decrease to an all-time low of 3.8%. The market recorded 3.2 million square feet of positive net absorption as tenants moved into new deliveries.
The Lackawanna Warehouse Building at 629 Grove Street in Jersey City is an industrial asset that spans 1,500,000 square feet offering tenants on-site parking, 23 freight elevators, three passenger elevators, wide column spacing, high ceilings, and assigned 22 loading docks. The building has an on-site manager located in Jersey City’s “Urban Enterprise Zone,” just a one-minute drive from the Holland Tunnel.