Urban Edge Properties has leased a 130,000-square-foot warehouse in Lodi, New Jersey, to AAA Wholesale, according to Real Estate Weekly.
Urban Edge converted the former big-box retail store — previously rented to National Wholesale Liquidators — for industrial use last spring. CBRE’s Bill Waxman, who represented AAA Wholesale in the deal, said such conversions will become more common.
“In the next few quarters you will hear about many more of these types of transactions and our team is working on multiple projects right now,” Waxman said, adding that Urban Edge “had the vision” to convert the property.
The Bergen County site is the first New Jersey location for AAA Wholesale, a membership club supplying small grocery stores, delicatessens and convenience stores.
[REW] — Dennis Lynch