Commercial real estate firm NAI James E. Hanson announced it has brokered the leasing of 24,488 square feet at 343 Murray Hill Parkway in East Rutherford.
The firm’s Kenneth Lundberg, Steve Pastor and Patrick Lennon represented the landlord, 343 Murray Hill Parkway Inc., while Jackson Hill and Luke Denny of Fischer & Co. represented transportation and logistics firm Beavex Corp. in the transaction.
“The Meadowlands’ accessibility and close proximity to major population centers continue to be large draws for national logistics companies when considering their expansion needs in the New York City metro area,” Lundberg said. “As industrial demand continues to increase and supply remains constricted, we are approaching double-digit rents for properties like 343 Murray Hill Parkway. This high-demand and low-supply environment enabled us to negotiate a mutually beneficial deal on behalf of the landlord that drew a premium rental price while allowing Beavex to expand their operations in this market.”
343 Murray Hill Parkway is a single-story, 53,361-square-foot property with 4,000 square feet of office space and 21-foot-clear ceilings, NAI Hanson said.
The property is located west of MetLife Stadium, with proximal access to routes 3, 17 and 120.