CBRE Arranges Industrial Lease for E-Commerce Firm at 79 Thomas Mcgovern Drive in Jersey City

23 Jul 2020

79 Thomas McGovern Drive

Long-Term Lease Signed at New Warehouse Facility Developed by CT Realty

CBRE today announced a 95,808 sq. ft. lease at a newly developed industrial property located at 79 Thomas McGovern Drive in Jersey City, New Jersey. An international e-commerce company committed to a long-term lease for the entire warehouse facility. This is the first project in New Jersey developed by CT Realty, a national real estate investment and development company specializing in logistics and e-commerce solutions for corporate America.

The CBRE team of Thomas Monahan, Stephen D'Amato, Larry Schiffenhaus, Anastasia Lazarides, Lauren Hageman, Gerard Monahan and Brian Fiumara spearheaded the leasing campaign for the property and represented CT Realty in the lease negotiations.

“79 Thomas McGovern Drive presented the tenant with a truly unique opportunity to be located in a brand-new facility in this prime last mile distribution area,” said Mr. Monahan. “Offering direct access to New York City via the Holland and Lincoln Tunnels and just a few minutes from the ports of Newark and Elizabeth, as well as Newark Liberty International Airport, the property is ideal for the tenant’s real estate and logistics needs.”

“CT Realty is thrilled to land such a high-profile e-commerce tenant in our first development project in New Jersey,” said Rob Huthnance of CT Realty. “During these uncertain times in our industry, it was a pleasure to work with the CBRE team and we’re grateful that they were able to get this deal across the finish line.”

Located in the heart of Jersey City, 79 Thomas McGovern Drive sits on approximately five acres of fully fenced and secure land and offers 36-foot ceiling heights, eight dock doors, 87 car parking spaces, ESFR sprinkler systems, LED motion sensors and nearly 2,000 sq. ft. of office space.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2021 revenue). The company has more than 105,000 employees (excluding Turner & Townsend employees) serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.