Springfield, New Jersey — October 23, 2001 — The United States Post Office has purchased a 333,000 sq. ft. facility at Teterboro, NJ, for approximately $39 million to be used as its new Northern NJ Metro Processing and Distribution Center.
Since 1995 the United States Post Office had been scouting for prime locations in northern New Jersey for a Northern NJ Metro Processing & Distribution Center. With the assistance of The Blau & Berg Company, the USPS decided on the Teterboro building, one that they came close to acquiring several years ago. Other properties considered were located in Clifton, Little Falls, Totowa, and Montville Township.
Kenneth F. Crimmins, CCIM, SIOR, President of The Blau & Berg Company, headed the team that represented both parties in the transaction. He pointed out that, because of the property’s size and location, the use by the USPS of the property as a major distribution center “will significantly improve postal services within the area.” Blau & Berg is a brokerage firm offering a full range of service in industrial, commercial, office sales and leasing, and property management services. It is also a major player in the trucking industry with extensive experience in truck terminals and distribution, logistical facilities, port properties and service and repair facilities.
Constructed in 1996 by The Morris Companies, who, led by Joseph Morris, Chairman, played a pivotal role in the success of the transaction, the 333,000 sq. ft. building is fully air-conditioned and contains 14,000 sq. ft. of office area, 32′ ceiling height, 35 loading docks, an ESFR sprinkler system and sufficient parking for 263 cars and 90 trucks. Aside from size, another feature that likened the USPS to this facility is its proximity to existing facilities in South Hackensack and Paterson, and its easy accessibility to all major thoroughfares in the Garden State. The property is located at 200 Industrial Ave., Teterboro, NJ, and is situated minutes from Routes 46, 80, 95, the Garden State Parkway, and the New Jersey Turnpike. And, as a bonus, the facility is situated just across from the Teterboro Airport, one of the fastest growing small airports in the state.
Purchased from Keystone Property Trust, the USPS plans to covert it into a state-of-the-art service center and absorb the responsibilities of the Hackensack and Paterson post offices. Once up and running, the new facility will not only be capable of processing one million pieces of outgoing first class mail daily but will also generate 1,000 new jobs.
For additional information on The Blau & Berg Company, visit www.blauberg.com or call 973-379-6644.
