J.G. Petrucci inks 30,390 sq. ft. lease at newly construed building in East Orange, New Jersey
Posted on Oct 25, 2019 in Projects
Prime Global Solutions (PGS), a quality supplier and manufacturer of bulk materials, recently signed a 30,390-sq.-ft. lease at a newly constructed industrial property in East Orange, New Jersey. The property is owned and operated by J.G. Petrucci Co., Inc.
“With 11 Sussex, we are revitalizing an urban location that has laid barren for decades,” said Greg Rogerson, Principal of J.G. Petrucci Company, Inc. “This pioneering project is redeveloping an underserved neighborhood by transforming an 8.3-acre blighted site into an asset that will boost economic development within the community and create jobs. We are excited to welcome Prime Global Solutions to our real estate portfolio and will continue to expand our footprint in East Orange, New Jersey.”
Lou Belfer and Scott Belfer spearheaded the leasing campaign on behalf of J.G. Petrucci Co., Inc. and negotiated the long-term lease transaction. Targeted occupancy is planned for October 2019.
“11-14 Sussex Avenue is an exceptionally constructed industrial asset located near the Port, as well as a number of major thoroughfares,” said Lou Belfer, Senior Vice President. “It’s ideal for a number of uses, including warehouse, distribution, light manufacturing and corporate office.”
Headquartered in City of Industry, California, PGS will occupy half of the 60,000-sq.-ft. facility, joining current tenant ABC Supply Co., Inc., which signed a 30,000-sq.-ft. lease in December 2018. The property is located in close proximity to the Port of Newark/Elizabeth and directly off of Route 280. The state-of-the-art industrial facility boasts seven loading docks, 28-foot ceilings, trailer storage and 2,000 sq. ft. of office space.
PGS was represented by Monica Franco and Priscilla Teixeira, Corporate Account Managers at Commercial Realty Partners, LLC in the lease negotiations.
The $30 million redevelopment project is also home to the largest wholesale distributor of roofing in the United States, ABC Supply Co., Inc. This is J.G. Petrucci’s second project with ABC Supply Company.