Diaz Foods expands ops with new Hackensack lease

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Food distribution company Diaz Foods is relocating to Hackensack.

The STRO Cos. signed a 19,500-square-foot lease with the Atlanta-based company for a new warehouse and distribution facility located at 215 S. Newman St. in the Bergen County municipality.

“215 South Newman provides an unmatched opportunity for distribution tenants,” Director of Leasing Elliot Ferris said in statement with the July 5 announcement. “The property’s proximity to Manhattan and the Port Markets unlocks tremendous value for tenants like Diaz Foods.

“This transaction is another example of New Jersey’s importance in the global supply chain,” Ferris added. According to a recent report, the New Jersey-New York Ports area is one of the hottest markets in the nation with 26% year-over-year rent growth.

Ferris handled negotiations on behalf of the landlord while Charlotte Belling and Caroline Eisen of JLL represented Diaz Foods in the transaction.

“As it continues to expand its national footprint, Diaz Foods was seeking a highly accessible warehouse facility that offered proximity to both its customers and its employees,” Belling said. “215 S. Newman St. fulfills both requisites with its location in the heart of the Meadowlands industrial market just 7 miles from the George Washington Bridge.”

STRO, which recently expanded its team with a new director of construction, is making moves to expand, as well, with an eye toward industrial warehouses in North Jersey and Florida in particular. According to Ferris, the company has a considerable amount of capital to deploy and is interested in core-plus, value-add or “opportunistic” acquisitions.

At the end of June, STRO signed a tenant for a 78,000-square-foot lease in Fairfield.