Two corporations decided to retain their New Jersey operations by signing more than 360,000 square feet of industrial space at Hartz Mountain Industries properties through Cushman & Wakefield Inc.
Cushman & Wakefield, which represented both tenants, announced the leases Tuesday, as both Samsung C&T America and Walong Marketing Inc. signed to remain in North Jersey.
Samsung’s fashion and textile division will now be located at a 185,000-square-foot property in the Harmon Cove Industrial Park, in Secaucus.
“Samsung initially wanted to move the operation to California,” said Andrew Stypa in a release from Cushman & Wakefield. “After we had identified several locations there, the company decided to remain and expand within New Jersey.”
Ali Abid, a senior manager with Samsung, indicated in the announcement that the company decided to stay in New Jersey for various reasons, including they “didn’t want to lose sales, especially with the back-to-school season coming up.”
Walong renewed its lease at 99 Craven Point Road, in Jersey City, for 20 years after originally contemplating a shorter lease and other locations.
“Our underlying desire was to remain at the spot, but they took the time to research other potential sites,” Jonson Chen, vice president of real estate for Walong, said in the announcement. “The cost of moving would be something to take on, but we were ready to do so if necessary. In the end, we were able to work out an agreement and signed for 20 years.”
Walong has been at the 175,456-square-foot facility, which is the East Coast distribution center, for 10 years.
“Ultimately, Walong determined that it made the most sense for them to stay where they are,” Stypa said.
