CB Richard Ellis executed 262,000 square feet of industrial leasing transactions at 2 Colony Road in Jersey City, N.J.
The total value of the transactions was not disclosed.
Interglobo Morro, a paper distributor, has leased a 165,000-square-foot space to consolidate three facilities, including its corporate headquarters, currently located within the Empire State Building in New York City.
In addition, Falcon Foods, a Latino food distributor, has leased a 97,000-square-foot space to utilize as a warehouse and distribution facility.
RREEF, a U.S. based real estate investment manager, owns both properties. The addition of the two new tenants brings the property to full occupancy.
“Interglobo Morro and Falcon Foods ultimately chose this property due to the property’s rail access and ideal location in the Port market,” said Nicholas Nitti, a CB Richard Ellis vice president. “We anticipate increased activity among both sectors in the near future, especially coming from New York. The food industry, in particular, continues to be one of the strongest drivers of the local industrial market.”
Los Angeles-based CB Richard Ellis Group Inc. provides commercial real estate services worldwide.