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Deals & Dealmakers

Prologis signs 57,000 s/f last mile deal with CDL

Lee & Associates New Jersey has arranged a six-year, 57,150 s/f industrial lease at 230 Moonachie Avenue in Moonachie, New Jersey for CDL Last Mile Solutions, a last mile distribution company.

Michael Schaible, senior vice president and Troy Wisse, assistant vice president of Lee & Associates New Jersey represented the landlord, Prologis, the global leader in logistics real estate, in this transaction.

The tenant, CDL Last Mile Solutions was represented by Team Resources. CDL Last Mile Solutions is currently slated to move into the newly renovated space on December 1, 2020.

“We are pleased to have brought this deal to fruition and work with a company like Prologis that continues to be the market leader in delivering high-quality industrial assets for its tenants,” said Wisse. “230 Moonachie Avenue is a prime industrial asset in the heart of the Meadowlands that allows CDL Last Mile Solutions to grow and operate at their highest efficiency. This deal reflects that, even during these unprecedented COVID-19 times, the industrial market has a prosperous future.”

This deal marks a relocation for CDL Last Mile Solutions, which quickly outgrew its space in the Meadowlands and was seeking to expand its operations. Prior to CDL Last Mile Solutions occupying the space, Prologis completed extensive improvements such as painting the interior and exterior of the property, installing new LED lighting and loading dock packages, building out new office space, paving the lot, and planting new landscaping.

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