Urban Edge Properties (NYSE:UE) has announced that Best Way Trucking (186,855 SF) and Decker Tape Products, Inc. (99,527 SF) have signed long-term leases at the East Hanover Commerce Park on Ridgedale Avenue in East Hanover, NJ. The industrial warehouse property is now 100% leased.
“The industrial leasing landscape in New Jersey is a multifaceted and crucial component of the region’s economy. Despite its intricacies, the demand for industrial space remains , and we are delighted to have successfully filled a large vacancy in a significant asset we acquired in 2021,” said Leigh Lyons, Senior Vice President of Leasing at Urban Edge Properties. “Our expansion into industrial reflects our expertise in real estate leasing, which we leverage to cater to the specific demands of retailers, particularly with regard to last-mile delivery and other back-of-house operations.”
Best Way Trucking Service, Inc. is a multifaceted, third-party logistics and warehousing services organization established in 1975 by Mark Day Trewhella in Fairfield, NJ. Best Way Trucking provides same-day courier service to businesses in the Tri-State area.
Established in 1969 by George Decker in a garage, Decker Tape remains a family business and has since grown into a leading supplier of pressure-sensitive tapes and labels.
Urban Edge identifies industrial assets complementary to the company’s strong retail redevelopment, leasing and acquisition capabilities to address tenant space requirements beyond traditional retail boxes. These needs may include space fulfillment, warehousing, distribution, parking, assembly and light manufacturing as well as capital.
This warehouse property is centrally located in northern New Jersey’s Morris County on Ridgedale Avenue. Comprising over 1.2 million square feet of industrial capabilities, East Hanover Commerce Park delivers essential warehouse and last mile needs with great access to I-287, I-80, and I-280 from both Route 10 and Eagle Rock Avenue, all major arteries that pass through East Hanover. Tom Consiglio and Scott Peck of Resource Realty represented Urban Edge. Thomas Mallaney of CBRE represented Decker Tape and Gregory J. Sabato of Resource Realty of Northern NJ worked on behalf of Best Way Trucking.
