Newmark said Aug. 18 that print and direct mailing company LOGON renewed its 41,000-square-foot lease and added 30,000 square feet at 629 Grove St. in Jersey City. The company has been located at the property known as the Lackawanna Warehouse Building since 2004.
Newmark Managing Director Dan Reider, Associate Director Justin Pollner and Associate John Crawford represented the tenant in the renewal and expansion.
Manhattan-based LOGON is a print and mailing company whose clients include Fortune 500 companies, finance, fine arts, beauty brands, and nonprofit entities. The company has served various markets for more than 30 years, delivering direct mail, digital print, fulfillment, and wide format signage services.
LOGON has operated out of its Jersey City site for the past 17 years, with this most recent expansion accommodating its growing business needs.
“The area’s industrial market has continued to see a surge in demand from producers and distributors,” said Reider. “Our team is thrilled to have worked with LOGON. It’s always a good feeling helping a local business expand and grow within the region, and we believe that the increased space will help them meet the needs of their clients as they continue to grow and thrive.”
According to Newmark Research, the northern New Jersey industrial market fundamentals improved in all categories during the second quarter of 2021. New leasing caused vacancy to decrease to an all-time low of 3.8%. The market recorded 3.2 million square feet of positive net absorption as tenants moved into new deliveries.
The Lackawanna Warehouse Building at 629 Grove St. in Jersey City is an industrial asset that spans 1,500,000 square feet, offering tenants on-site parking, 23 freight elevators, three passenger elevators, wide column spacing, high ceilings and 22 assigned loading docks. The building has an on-site manager located in Jersey City’s Urban Enterprise Zone, a one-minute drive from the Holland Tunnel.