Crow Holdings Development holds ribbon-cutting ceremony for 1.2 million s/f warehouse/distribution property

November 14, 2023 - Outside The Region

Carteret, NJ Local dignitaries, industry professionals and stakeholders joined Crow Holdings Development (CHD) to celebrate the grand opening of Crow Holdings at Carteret. The event culminated with mayor Daniel Reiman joining members of the development team for a formal ribbon-cutting ceremony, during which he presented a proclamation recognizing the campus’ impact.

Attendees had a chance to tour the 1.2 million s/f warehouse/distribution property and see first-hand its location benefits of being less than ½ mile (one traffic light) off Exit 12 of the New Jersey Tpke. The three-building property at 300, 400 and 500 Salt Meadow Rd. features pre-built offices and 40-ft. clear ceiling heights, as well as a combined 299 trailer parking spots, 174 dock doors with fully equipped loading docks, and six drive-in ramps.

“This campus, which has introduced a new, world-class warehouse/distribution opportunity in the heart of the Greater Port submarket, is the result of a strong public-private partnership,” said CHD senior managing director Clark Machemer. “From the start, the borough of Carteret has been a great supporter. This municipality understands that development is an economic stimulant and driver for growth. We thank mayor Reiman and members of the Carteret borough council and administration for being part of this celebration.”

Reiman cited the borough’s commitment to thoughtful redevelopment for earning its position among the most business-friendly municipalities in New Jersey. Illustrating this point, a 30-year PILOT for Crow Holdings at Carteret provides long-term tax rate stability.

“We are proud to add Crow Holdings Development’s newest state-of-the-art industrial park to the Borough’s ever-expanding portfolio of successful redevelopment projects and welcome the national and international business tenants that will soon call Carteret home,” said Reiman. “My administration and the borough of Carteret were excited to work with CHD throughout this brownfield redevelopment and look forward to many years of successful partnership.”

CHD said that third-party logistics provider Weida Freight System, Inc. (WFS) will become the first tenant at the campus via a 188,000 s/f, long-term transaction at 400 Salt Meadow Rd.

The deal was brokered by Cushman & Wakefield’s Jules Nissim, Stan Danzig and Kimberly Bach, who serve as exclusive leasing agents for Crow Holdings at Carteret.

PHOTO CAPTION (L-R): CHD vice president-industrial Brad Vander Vliet, Carteret borough chief of staff Frank Bellino, borough council president AJ Johal, mayor Daniel Reiman, CHD senior managing director Clark Machemer and borough council member Vincent Bellino.