California Logistics Company Enters New Jersey With Acquisition of 30,000-Sq.-Ft. Warehouse
Cushman & Wakefield orchestrated the sale of 15 Route 173, a 30,000-square-foot warehouse on 13 acres in Hampton. Kal Freight Inc., a Chino, Calif.-based logistics company, purchased the asset. Daniel Badenhausen and Andrew Stypa, from the global commercial real estate services firm’s tenant representation team in Iselin, N.J., represented the buyer.
“This is a valuable asset,” said Badenhausen. “It’s a robust truck terminal with 15- to 20-foot clear ceiling heights, abundant trailer parking, and a unique location. Its proximity to the Bethlehem, Pa. and Philipsburg, N.J. areas, which are experiencing rapid growth in big-box warehouse distribution building’s, adds to the potential for the structure.”
15 Route 173 is strategically located along the I-78 and I-81 corridor that links New Jersey with the entire East Coast, he added. “The location also enables access to the Midwest and Southeast. Amenities like 50 loading doors, and cross-docking contributed to the attraction of the property.”
“This strategic acquisition broadens the reach of Kal Freight,” according to Stypa. “Besides Chino, the company already has a presence in Dallas and Indianapolis. New Jersey rounds out the portfolio, giving the company a valuable East Coast entry.”
“This is a big leap for us,” said Memo Martinez, Kal Freight Inc.’s safety supervisor. “Kal Freight is a family owned company that started small but is expanding. This move into New Jersey gives us direct access to the entire East Coast, up to Maine, and our drivers can now reach the entire continental U.S.”
About Cushman & Wakefield
Cushman & Wakefield (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value by putting ideas into action for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with 48,000 employees in approximately 400 offices and 70 countries. In 2017, the firm had revenue of $6.9 billion across core services of property, facilities and project management, leasing, capital markets, valuation and other services. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.
