Another last-mile distribution facility has been leased in the industrial hotbed of Northern New Jersey.
RTC Properties, an affiliate of River Terminal Development, has signed New Zealand-based Mainfreight to a 110K SF lease at 50 Cable Drive within its South Kearny Industrial Complex in Kearny. RTD manages the complex from its headquarters on-site.
South Kearny Industrial Complex is a 3.2M SF development owned and developed by RTD across 170 acres around 3 miles from the ports of both Newark and Elizabeth. Part of the acreage is still available for build-to-suit projects, according to RTD's website.
50 Cable Drive, situated centrally within the complex, is a one-story, 208-foot deep building with 36-foot ceilings and parking for 26 trailers and 160 cars. A CBRE team led by William Waxman brokered the transaction.
The South Kearny area, in addition to being an industrial hub, is also home to the Kearny Point development, a repurposing of a former shipyard into a mixed-use community anchored by office space.
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