Member News — NAI James E. Hanson Negotiates Long-Term Lease for New 271,176-Square-Foot Industrial Building in Mahwah, N.J.
April 25th, 2018
NAI James E. Hanson announces it has brokered a lease with Snow Joe DC, LLC, for Sitex Group’s new 271,176-square-foot industrial building at 100 Performance Drive in the Stateline Business Park in Mahwah, N.J. NAI Hanson’s Kenneth Lundberg, SIOR, and Patrick Lennon represented the landlord, Sitex Group and Brian Scheuer of Chaus Realty represented the tenant.
The signing of the long-term lease with Snow Joe marks the culmination of a successful multi-pronged marketing effort by NAI James E. Hanson to secure a tenant for Sitex Group’s latest spec warehouse project. Situated on 20.74 acres of land, the state-of-the-art 271,176-square-foot warehouse offers all of the features desired by today’s warehousing tenants such as 36’ clear ceiling heights, 54’x60’ column spacing, 36 dock doors, ESFR sprinklers, two drive-ins and parking for 25 trailers and 184 cars. Located less than a mile from the intersection of Route 17 and Interstates 87 and 287 with direct access to New York City via the Tappan Zee and George Washington Bridges, the property sits amidst one of the most easily accessible transportation hubs in Bergen County.
Snow Joe, a leading manufacturer of innovative, eco-friendly and affordable lawn and garden tools, was seeking to expand their distribution capabilities to effectively meet the needs of their rapidly growing customer base. Sitex Group is one of the largest and most active development/investment groups in New York and New Jersey Industrial markets.
The successful leasing of 100 Performance Drive showcases the viability of the Northern Bergen submarket as one of the most active industrial markets in the state. The Northern Bergen submarket is well-positioned for continued strong growth on both the development and leasing fronts as tenants seek higher quality brick-and-mortar with easy access to the area’s transit arteries.
“From the moment we were approached by Sitex Group to be the leasing agent for this property, we immediately recognized the great opportunity that both this building and the Mahwah area held for a distribution and fulfillment-oriented company,” said Ken Lundberg, SIOR, Senior Vice President at NAI James E. Hanson. “With record property prices throughout much of Bergen County and a highly limited supply of state-of-the-art buildings, submarkets like Mahwah present industrial users with an ideal mix of location, flexibility and access to a highly skilled workforce that make this area a perfect location for companies like Snow Joe.”