Built to help meet demand for space where there isn’t a lot, HD Supply – the North American distributor owned by Home Depot – is relocating to the Harborview Logistics Center in Bayonne.
JLL announced Dec. 20 it completed the lease of the 195,723-square-foot warehouse property located at 71 New Hook Access Road, near the former Marine Ocean Terminal.
The firm was tapped to lease the speculative project in April by developer Delta Equity Management LLC.
According to DEM Founder and President Vincent DiDomenico, HD Supply will relocate and expand from its present location at 3 Enterprise Ave. N. in Secaucus. The Bayonne property is set to be completed in January 2023.
JLL Northeast Industrial Vice Chairman Joel Lubin and Managing Director Gary Politi represented DEM in the seven-year lease. Colliers Vice Chairman Noah Balanoff represented the tenant.
“With its state-of-the-art infrastructure, free-standing location and unrivalled accessibility, Harborview Logistics Center is an ideal location for a company seeking to accommodate consumer demand for rapid delivery,” Lubin said in a statement.
Just 10 miles from New York and situated on a peninsula between the Newark and New York bays, Harborview Logistics Center offers access to Interstate 95 and proximity to the Port of Newark and Newark Liberty International Airport.
Quick hits: Harborview Logistics Center
- 46 dock doors
- 2 drive-ins
- 40-foot clear ceiling heights
- 135-foot truck court
- 32 trailer parking spaces
- 149 car parking spaces
“The Northern New Jersey industrial market has a significant shortfall of available space, and this brand-new property at the heart of the nation’s most populous area had significant appeal,” Lubin said.
According to JLL’s most recent Industrial Insight report, in the third quarter 27.2 million square feet were under development — twice that of the same period the year prior.
“We are thrilled to welcome HD Supply to Harborview, a development that will continue to contribute to the Bayonne economy while filling a void for modern logistics space at the heart of the metropolitan region,” DiDomenico said.
According to the announcement, Harborview Logistics Center has a 20-year PILOT (Payment In Lieu Of Taxes) agreement, which will reduce real estate taxes on the building for the long term.
HD Supply did not immediately return a request for comment about the move.
The wholly owned Home Depot subsidiary is a wholesale distributor with more than 100 distribution centers across the U.S. and Canada.