Resource Realty of Northern NJ (RRNNJ) on Thursday said it successfully arranged two significant industrial-property leases at the Ridgedale Industrial Park assemblage in East Hanover, underscoring the enduring strength of the Northern New Jersey industrial corridor.
The transactions involved two adjacent sites off Route 10, which connects directly to I-287:
- 903 Murray Rd.: A substantial 158,440 square feet leased to J&J’s Tri-State Delivery Service.
- 906 Murray Rd.: A 15,005 square-foot space leased to Tri-State Cleaning and Restoration.
The RRNNJ team of Founding Principal Tom Consiglio and Principal Scott Peck represented the landlord in both successful transactions. Principal Brian Wilson represented the tenant at 906 Murray Road, while John Friedland of United Realty Advisors represented J&J’s Tri-State Delivery Service at 903 Murray Road.
“These two leases reflect the unwavering strength of the Northern New Jersey industrial corridor and the sustained appetite for well-located assets,” Consiglio said.
The properties are part of the premier, 1.2 million-square-foot Ridgedale Industrial Park, a major business center in Morris County, which was acquired in 2023 by an investment fund managed by Saxum Real Estate. RRNNJ was retained by the new ownership to continue serving as the exclusive leasing agent, building on the firm’s extensive history with the site.
The latest leasing success highlights RRNNJ’s long-term strategic involvement with the Ridgedale Industrial Park. The firm’s work over the past several years includes:
- Developing a strategy to successfully reposition the assets as premier warehouse, industrial, and flex buildings prior to the park’s sale.
- Engineering the park’s overall expansion and securing seven new leases totaling 546,000 square feet under the previous ownership.
Peck noted that the deals illustrate the firm’s client-focused longevity: “Executing these leases, at properties where we guided the portfolio from repositioning through its sale and now to renewed tenancy under new ownership, illustrates our 35 years of strategic, client-focused work.”
