Urban Edge Properties has leased the
former National Wholesale Liquidators building
on Route 17 in Lodi, New Jersey to AAA Wholesale.
The 130,000 s/f building will serve as
a wholesale membership club supplying smaller grocery stores, delis and
convenience stores, with 20,000 s/f allocated to consumers wishing to shop in
AAA has locations in the Bronx and
Brooklyn. The new location will be its first in New Jersey and is expected to
yield more than 100 new jobs.
Resource Realty of Northern New Jersey’s Tom Consiglio and Scott Peck represented ownership, while CBRE’s Bill Waxman and Kevin Dudley represented the tenant.
“We continue to seek older underutilized retail sites to service the needs of our clients requiring well located properties that can be converted to industrial use,” said Dudley.
Waxman added, “In the next few quarters
you will hear about many more of these types of transactions and our team is
working on multiple projects right now. The owner, Urban Edge, had the vision
to make the conversion and secure an excellent long-term tenant.”
“Lodi is an ideal location for our
buyers with excellent commercial access and easy loading. We are excited to
open our first New Jersey location,” said Alex Almontaser, founder and CEO of
AAA Wholesale Group. “We have a partner in Urban Edge Properties that is vested
in our success, reconfiguring the property to meet our needs and make it
possible for us to service the surrounding community through direct to consumer
Urban Edge, a real estate investment trust, announced last spring that it was converting the former National Wholesale Liquidators store into a warehouse and distribution facility. The plan calls for repurposing the first story into a 103,000 s/f, high-bay warehouse with 26-foot ceiling clearance, seven new loading docks, LED lighting with motion detection and a new roof and parking lot.
“With the recent market challenges
resulting from COVID-19, we are pleased to have identified this use and secured
a terrific lease and partnership with AAA Wholesale Group,” said Chris
Weilminster, executive vice president and chief operating officer of Urban
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