JERSEY CITY, NEW JERSEY—Premier Motor Lines Inc. has leased 97,453 sq. ft. of industrial space at 2 Colony Road in Jersey City, N.J. CBRE’s Matthew Corpuel, first vice president, completed the transaction on behalf of the tenant, while Bill Waxman, EVP, Mindy Lissner, EVP, and Nicholas Nitti, first vice president, represented the landlord, RREEF Management LLC.
Comprised of 262,000 sq. ft. of warehouse space, 2 Colony Road is located on 11.5 acres and was built in 1976. The building has 24-ft. ceilings, trailer parking spaces and an active rail. In addition, the property offers access to the New Jersey Turnpike, Route 78, Newark Liberty International Airport and the Ports of Newark and Elizabeth.
The tenant is relocating from its current space in Elmwood Park, N.J. and will use its space for warehousing and logistics for its private fleet service to New York, New Jersey, New England and Pennsylvania.
Premier Motor Lines is a third-party warehousing and logistics company that provides food grade warehousing, brokerage, and private fleet service to New York, New Jersey, New England and Eastern Pennsylvania. The business is relocating from 397 E 54th Street in Elmwood Park, N.J.