AEW Tenant Extends 406 KSF New Jersey Lease

200 Middlesex Ave. Image courtesy of NAI James E. Hanson

Cocoa and coffee warehousing company Continental Terminal has renewed its full-building lease at 200 Middlesex Ave. in Carteret, N.J. The company extended the 406,437-square-foot commitment at the industrial facility, which is owned by AEW Capital Management, according to CommercialEdge.

Continental Terminal first signed a lease in 2016, the same year when AEW bought the warehouse for $50 million, the same data provider shows.

The single-story Class B property was completed in 1988 and sits on 16.4 acres. The building features 26 and 28-foot clear heights, truck court, loading doors, dock leveler and bumpers, as well as 203 parking spaces.

Located at 200 Middlesex Ave., the property is just 23 miles from NYC, strategically placed near the New Jersey Turnpike, only 2 miles from the closest exit. Port Newmark-Elizabeth Marine Terminal is 15 miles from the asset, while Newark Liberty International Airport is 12 miles away. Other industrial tenants in the area include Amazon, NPC Global Corp., UPS and East Coast Inventory Logistics, among others.

The NAI James E. Hanson team representing the owner included Senior Vice Presidents Scott Perkins and Andrew Somple, Vice President Chris Todd and Director Greg James alongside Associate Justin Allessio. Executive Managing Directors Tom Carragher and Craig Engelhardt, Managing Director Steve Korfiatis and Associate Chris Carragher of Newmark assisted the tenant in the negotiations.

Earlier this year, a southern N.J. industrial park inked 491,000 square feet, as Seko Logistics signed a lease at Logan North, a 3.2 million-square-foot distribution park in Logan Township, N.J.