EAST HANOVER — Best Way Trucking Service, Inc. has renewed and extended its lease for the entire 186,855-square-foot industrial building at 151 Ridgedale Avenue in East Hanover Commerce Park, Resource Realty of Northern New Jersey said on November 13.
The long-term agreement was reached while the existing lease was still in effect. Resource Realty said the extension will support Best Way Trucking’s regional distribution operations as the company prepares for specialized Foreign Trade Zone operations.
Resource Realty principals Tom Consiglio and Scott Peck represented the property owner, while Greg Sabato served as Best Way Trucking’s exclusive broker.
“While strong demand for prime industrial real estate across the region continues to drive asking rents and compress vacancy, the team at RRNNJ was able to secure a long-term renewal for Best Way Trucking in one of the most sought-after submarkets in the state,” said Consiglio, the brokerage’s founding principal.
The building sits on 9.17 acres and includes 143,830 square feet of main warehouse space, administrative space and parking for up to 85 vehicles. It features 21-foot clear ceiling heights, 30-by-50-foot column spacing, 12 tailgate loading docks, 10 exterior tailgate docks and two drive-in doors.
Sabato cited the property’s location off Route 10 and near U.S. Route 46, along with access to Interstates 80, 287 and 78, as an advantage for distribution across New Jersey and into New York and eastern Pennsylvania.
Best Way Trucking was founded in Fairfield in 1975 and provides third-party logistics and warehousing services. Resource Realty of Northern New Jersey is an independently owned commercial real estate brokerage based in Parsippany.
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