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Peapod and Imperial Bag & Paper take advantage of state incentives to keep jobs in New Jersey.
JERSEY CITY, N.J., Dec. 10, 2012 — Jones Lang LaSalle today announced that two companies have taken advantage of state incentive programs designed to attract and retain companies in New Jersey, leasing nearly 840,000 square feet of space combined at the Pulaski Distribution Center — a build-to-suit distribution center located at 295 Routes 1 & 9 in Jersey City, N.J.
A team comprised of Executive Managing Director Robert C. Kossar, SIOR, Managing Director David Knee and Vice Presidents Blake Chroman and Christopher Hile represented the property owner, Prologis, in the following transactions:
“Prime examples of the tremendous success of the state’s incentive programs, these deals will serve as a boon to New Jersey’s economy,” Kossar said. “Both firms will bring hundreds of jobs to Jersey City — jobs that could have otherwise been lost if it weren’t for the vital UTHTC and Grow New Jersey programs.”
Approximately 140,000 square feet of space remains available for lease at Pulaski Distribution Center, which boasts a location within an Urban Enterprise Zone, approximately three miles from the New Jersey Turnpike. Currently under construction on a nearly 50-acre tract of land, the facility, which is being built on a former brownfield site, is striving for Leadership in Energy and Environmental Design (LEED) certification. Once complete, it will offer a 36-foot-clear ceiling height, 159 tailgates, four drive-in ramps, 139 trailer storage spaces and more than 350 parking spaces.
“The Pulaski Distribution Center offers Class A, state-of-the-art distribution space in a unique location that is easily accessible from the Port of Newark / Elizabeth and the Metro New York area,” Kossar said. “There is a very limited supply of this kind of space in Northern New Jersey and we are optimistic that the remaining space in the project will lease quickly.”
In New Jersey, Jones Lang LaSalle is a leader in commercial real estate brokerage, project management and investment sales. Employing more than 600 of the region’s most respected industry experts, the firm offers Office and Industrial Brokerage, Tenant and Landlord Representation, Project and Development Services, Property Management, and Capital Markets services to its clients in New Jersey. The operations also serve as the local service provider for the firm’s global and national corporate clients that have a presence in New Jersey.
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About Jones Lang LaSalle Jones Lang LaSalle (NYSE:JLL) is a professional services and investment management firm offering specialized real estate services to clients seeking increased value by owning, occupying and investing in real estate. With annual revenue of $3.9 billion, Jones Lang LaSalle operates in 70 countries from more than 1,000 locations worldwide. On behalf of its clients, the firm provides management and real estate outsourcing services to a property portfolio of 2.6 billion square feet. Its investment management business, LaSalle Investment Management, has $47.0 billion of real estate assets under management. For further information, visit www.jll.com.
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