The Advance Group moves other companies for a living.
Now it’s packing up its own boxes.
The commercial moving and logistics company has leased 93,728 square feet at Port South, a newly developed industrial park at 700 Federal Blvd. in Carteret, according to Avison Young, which represented the tenant and announced last week.
The move lets The Advance Group fold operations from three locations in Newark and Harrison into one building. Three addresses become one. Anyone who has ever run a business out of multiple warehouses knows how much that’s worth.
The space sits inside a 289,144-square-foot Class A distribution building, one of two at Port South. It has 36-foot clear heights and 16 loading docks.
The bigger selling point, as usual in New Jersey industrial real estate, is location. The park has direct access to the New Jersey Turnpike, Newark Liberty International Airport and the Port Newark-Elizabeth marine terminals.
For a company whose job is getting things from one place to another, that’s not a bad neighborhood.
Avison Young Principals Ed English Jr. and Ron Ganter and Executive Director Oliver Petrovic, all of the firm’s industrial occupier solutions team, handled the search. They looked at multiple site configurations and operating models before landing on Carteret.
English said the team cast a wide net.
“The Advance Group needed a facility that could support growth and streamline operations across northern New Jersey,” he said. “Our team searched the market from Exit 8A to the Meadowlands, evaluated numerous options and analyzed operational, logistical and financial factors to identify the best solution.”
KJ Kennedy, Chief Operating Officer of The Advance Group, said the work paid off.
“Avison Young’s due diligence across all of New Jersey helped us to make an informed real estate decision that streamlined our operations, which will help us to further support our customers,” Kennedy said.
CBRE Executive Vice President Brian Golden represented the landlord, Link Logistics.
