On the heels of clinching a 1 million-square-foot lease elsewhere in Central Jersey, Crow Holdings Development secured a global third-party logistics provider as the latest tenant at its Middlesex County industrial campus.

3PL YunExpress signed for 146,000 square feet at Crow Holdings at Carteret. Located at 30, 400 and 500 Salt Meadow Road, the 1.2 million-square-foot property is just off Exit 12 of the New Jersey Turnpike.

The agreement, announced April 1 by Crow Holdings, marks an expansion in the region for YunExpress. The newest tenant joins Weida Freight System Inc. and DSV Global Transport and Logistics at Crow Holdings at Carteret.

Savills Senior Vice President Christopher Marx, Senior Managing Director Chris O’Connor, Vice Chairman Steve Card, Senior Vice President and Branch Manager Chris Marx Jr., Managing Director Taylor DeRisi and Corporate Managing Director Peter Starr represented the tenant in the transaction. Meanwhile, Cushman & Wakefield Vice Chairs Jules Nissim and Stan Danzig as well as Senior Director Kimberly Bach negotiated the lease as exclusive agents for the property.

Crow Holdings at Carteret celebrated its debut in November 2023. The property benefits from a 30-year PILOT agreement, providing long-term tax rate stability.

In comments, Nissim noted, “The market continues to see a surge in 3PL deals, including an influx of Asian logistics providers working to build out their network capacity close to sea, air and land infrastructure.”

A grand slam

Crow Holdings Development’s Elmwood Park project secured a major player earlier this year.

MLB Network will occupy more than 200,000 square feet at the former Marcal Paper factory site. Learn more.

Crow Holdings at Carteret offers convenience to Newark airport as well as major roadways and key New York City crossings. It is situated on 126 acres and 13 miles from the Port Newark-Elizabeth Marine Terminal.

“Crow Holdings at Carteret’s unparalleled location and world-class, ready-for-occupancy distribution space hit all the marks for YunExpress,” commented Clark Machemer, senior managing director, Crow Holdings Development. “We are pleased to welcome another tenant to this thoughtfully designed and executed campus, which is a great source of pride for both our team and the Borough of Carteret.”

YunExpress bills itself as among the top third-party logistics operators in China. Within New Jersey, the company already has a presence in the Exit 8A submarket. Crow Holdings’ announcement highlighted the company as an emerging leading provider in cross-border, business-to-consumer lines for e-commerce sellers. Additionally, it offers Fulfillment by Amazon transfer, postal parcel and international express services.

Cushman & Wakefield is also marketing one remaining, full-building opportunity (480,000 square feet) on campus at 500 Salt Meadow Road.