Texas firm joins industrial new development spree in North Jersey

Dallas-based Crow Holdings recently broke ground at a 925,000-square-foot facility in Franklin Township, GlobeSt reported. Cushman & Wakefield will market the industrial spec space at 50 Veronica Avenue, which expects to be ready to accept deliveries in the first quarter of 2020. The space, called Crow Holdings at Veronica Avenue, includes 40-foot clear ceilings, 394 car spaces, 170 trailer spots and four drive-in ramps. Property records show that a limited liability company associated with Crow Holdings bought two sites in January at 50 Veronica Avenue and at 1089 U.S. Route 27 for a combined $7.1 million. The same LLC owns a total of 64.2 acres in Franklin Township. In the nearby town of South Brunswick, GlobeSt reported that an apparel company signed a 10-year lease brokered by JLL for a 203,488-square-foot warehouse and distribution facility under construction at 85 Stults Road. New York-based Adjmi Apparel signed the lease for the site, which is owned by EverWest Real Estate Investors and Accordia Realty Ventures. Almost 50 miles north in the Township of Sparta, Berardi Development, Joe Maggio Concrete and Masonry and NAI James E. Hanson recently broke ground on a 10,400-square-foot industrial flex space, RE-NJ reported. The development at 5 Aaron Way is the first of two new buildings slated for the 32-acre White Lake Commerce Park, which will accommodate Wantage Township-based Joe Maggio Concrete and Masonry. NAI Hanson will market the additional lots at the Sussex County commerce park, which range from 1.89 to 5.76 acres. [GlobeSt] CORRECTION: A previous version of this post mistakenly conflated Crow Holdings with Dallas-based Trammell Crow. They are two separate entities.