Hilco Secures 1st Tenant at New Jersey Logistics Park

HRP Hudson Logistics Park. Image courtesy of Hilco Redevelopment Partners

Hilco Global‘s Hilco Redevelopment Partners has secured an 80,000-square-foot, long-term lease at HRP Hudson Logistics Park in Jersey City, N.J. The tenant is DB Schenker, a global logistics company with more than 1,800 locations, that will fully occupy the industrial project’s Building 3.

This marks the first lease agreement at Hilco’s redevelopment project. CBRE negotiated on behalf of the tenant, while JLL worked on behalf of the landlord.

Located at 110 Van Keuren Ave., Building 3 features a 3,000-square-foot office component, 36-foot clear heights, ESFR sprinkler system, 60-foot speed bays, 14 dock-doors, 19 trailer parking spots and 60 vehicle parking spots.

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HRP Hudson Logistics Park is a redevelopment project rising on the site of the former Hudson Generating Station, a coal power plant that Hilco purchased in late 2018. The company’s redevelopment strategy included infrastructure improvements and other roadways, resulting in an 86-acre master-planned industrial campus. Now totaling 704,432 square feet, the first phase also encompasses the 427,155-square-foot Building 1 and the 197,277-square-foot Building 2, completed and available for lease.

Situated within a Foreign Trade Zone along the Northeast Corridor, the logistics park is close to the New Jersey Turnpike, 8 miles from Newark Liberty International Airport and 9 miles from Port Elizabeth.

CBRE’s Kevin Dudley and Nicholas Klacik worked on behalf of DB Schenker. JLL’s team of David Knee, Chirs Hile and Ryan Milanik represented the landlord and are also marketing the remaining space for lease.

Industrial projects in the making

With industrial still red hot, other notable projects are making progress in New Jersey and New York. Earlier in June, Bridge Industrial secured $64.3 million for its upcoming 211,388-square-foot Class A industrial project, Bridge Point 15E, in Newark, N.J. JLL assisted the developer in securing the construction  loan, provided by Heitman.

In May, The Coca-Cola Co. announced plans for a 745,000-square-foot facility in Webster, N.Y., for the production of Fairlife’s ultra-filtered milk products. With an estimated cost of $650 million, the upstate project is expected to commence construction this fall, with completion scheduled for late 2025.