JLL to market and lease under-construction, 75,900-square-foot, Class A warehouse a few blocks from Newark Liberty International Airport
The S.Hekemian Group LLC has broken ground on 120 Frontage Road in Newark, N.J. JLL will serve as exclusive leasing agent for the under-construction, 75,900-square-foot warehouse, providing a full range of marketing and leasing services for the project.
The JLL professionals overseeing the new leasing assignment include Frank Recine, executive managing director, Brian Golden, managing director, and Gary Politi, senior vice president. They will work closely with Peter Hekemian, senior managing director, with The S.Hekemian Group.
“This new facility will add much-needed modern warehouse and distribution space to the Newark market, which has been held back by a limited supply of Class A industrial product,” said Golden. “The facility’s proximity to Newark Liberty International Airport, the Port of Elizabeth and the Port of Newark, and its immediate access to Route 78, and the New Jersey Turnpike make this an ideal location.”
“The single-story 120 Frontage Road will comprise 75,900 square feet of modern warehouse space.” said Recine. “Demolition has already begun on the existing parking lot and structure, with construction of the new facility expected to be completed later this year. The new warehouse will offer a 36-foot clear ceiling height, 19 loading dock doors, one drive-in door and 46 parking spaces.”
JLL formed its Northeast Industrial Region in early 2017, combining its industrial brokerage operations in Connecticut, New Jersey, New York and Pennsylvania into a single region. The firm merged its industrial business lines to better serve clients that increasingly view the industrial sector in all four states as one large interconnected market. The Northeast Industrial Market comprises approximately 1.54 billion square feet of industrial space, and represents the largest industrial market in the United States.
About The S.Hekemian Group LLC
The S.Hekemian Group (SHG) develops high-quality, highly-finished real estate for long-term ownership. With over 90 years as one of the country’s most stable property owners and developers, our significant and highly selective portfolio includes luxury residential, office, mixed use, and retail/lifestyle, and industrial properties located in the strongest demographic areas of New Jersey, the Northeast United States, and California. We own assets both in the private form and also through the First Real Estate Investment Trust of NJ, a publicly-traded REIT (trading under the ticker symbol “FREVS”), of which the Hekemian family was a founding member.
About JLL
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $18.0 billion, operations in over 80 countries and a global workforce of more than 93,000 as of December 31, 2019. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
