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  • Writer's pictureMAREJ

Crow Holdings announces plans for “Crow Holdings at Carteret”, 1.2 MSF industrial property

CARTERET, NJ — Crow Holdings Industrial, the industrial development company of Crow Holdings has acquired a prime 126-acre property in Carteret from Rahway Arch Properties with plans to break ground this summer on a three-building, 1.2 million-s/f speculative development. Crow Holdings tapped Stan Danzig, Jules Nissim and Kim Bach of Cushman and Wakefield to lease the space.

The property will bring the region much-needed logistics space in a prime spot just off of Exit 12 of the New Jersey Tpke. With the unprecedented demand for distribution centers in recent years, industrial vacancies have consistently hovered near zero, as occupiers have absorbed new developments as quickly as they have been built.

“With e-commerce gaining steam over the past few years, my administration has long recognized the importance of industrial construction in our town’s economic redevelopment initiatives, and it’s exciting to see a national developer like Crow Holdings begin a project of this magnitude,” said Carteret Mayor Daniel J. Reiman. “Besides creating ratables, these industrial facilities will bring hundreds of Union construction jobs and hundreds of full time permanent jobs to Carteret residents, all of which will benefit the borough more broadly. While this once abandoned site has been underutilized for many years, it’s exciting to see it begin the next chapter in its story as an economic engine that serves the needs of Carteret and surrounding areas.”

The property spent much of the 20th century operating as a historic industrial location for several manufacturing companies. Over the past decade, the property underwent environmental remediation through the leadership of Rahway Arch, ultimately receiving full approvals from New Jersey’s Department of Environmental Protection.

“The redevelopment of this site is good for the town as a tax ratable and because it brings more jobs,” said Rinaldo D’Argenio, Rahway Arch’s managing member. “Crow Holdings’ proven ability to deliver and close on complicated transactions is further evidenced by its acquisition of the property.”


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