Crow Holdings Development will welcome a new tenant to its award-winning industrial property in Carteret.

DSV Global Transport and Logistics – the third-largest transport and logistics provider worldwide – signed on for 355,000 square feet at Crow Holdings at Carteret.

Announced Aug. 6, the lease for 300 Salt Meadow Road makes DSV the second occupant to join the 1.2 million-square-foot industrial campus located near Exit 12 of the New Jersey Turnpike.

A Cushman & Wakefield team of Vice Chairs Jules Nissim and Stan Danzig and Senior Director Kimberly Bach negotiated the transaction as exclusive leasing agents for the property. CushWake Vice Chair Mindy Lissner represented the tenant.

According to Crow Holdings at Carteret, Denmark-based DSV will serve a household-name client from the new location. Plans call for the expansion of existing office space at the building. Additionally, specialized fit-outs will include 100,000 square feet of cooler space.

DSV services a variety of industries, ranging from aerospace and energy to health care, consumer distribution and even exhibitions and events. The new lease increases its presence in the area.

“We are thrilled with the selection of this new facility in Carteret,” commented Josh Summers, president, Solutions North America, DSV. “This more than doubles our footprint in the region and allows us to draw on our already extensive capabilities there. Crow Holdings Development‘s property is the ideal selection and one we believe demonstrates our commitment to our customers’ growth.”

Crow Holdings Development Senior Managing Director Clark Machemer said the deal underscores the demand for the project. “DSV has been active in the market – they left no stone unturned in their site-selection process. This is a strong testament to our campus and to the Borough of Carteret’s success in fostering a pro-business environment,” he said.

Drawing interest

The transaction helps Crow Holdings at Carteret approach the 50%-occupied mark, Crow said. In 2023, Weida Freight System Inc. signed a long-term lease for 188,000 square feet at 400 Salt Meadow Road. After beginning work on the project in 2022, Crow Holdings at Carteret debuted last October.

Cushman & Wakefield is marketing one remaining full-building opportunity of 479,700 square feet at the property, as well as a 146,400-square-foot, partial-building space.

Crow Holdings at Carteret sits on 126 acres just 13 miles from the Port Newark-Elizabeth Marine Terminal.

Crow Holdings Development’s projects in the Northeast also include the recently completed 25 Market St. in Elmwood Park. The project reimagined a former Marcal Paper site, devastated in a 2019 fire. Its other work comprises more than 3.5 million square feet of new development in New Jersey and Pennsylvania over the past two years.

Crow Holdings Development is the development platform of Crow Holdings, a privately owned real estate investment and development firm with $33 billion of assets under management.