Elberon Development Group has executed a lease for a 1.6-acre industrial outdoor storage property in Elizabeth, New Jersey, according to Real Estate NJ. The tenant, Northeastern Lumber Building Supply, will use the site at 869-871 Julia St. to support its operational and distribution needs across the northern New Jersey market. The property includes a 4,225-square-foot maintenance facility and sits in close proximity to Port Newark-Elizabeth and Newark Liberty International Airport. Bussel Realty Corp. represented the tenant in the transaction, with Elberon handling landlord representation in-house. Brokers noted that the tenant evaluated more than a dozen IOS opportunities across multiple northern New Jersey submarkets before selecting this location as its preferred long-term solution.
ParkPoint Perspective
This transaction reinforces a broader pattern of sustained demand for small-format IOS sites in port-adjacent, infill locations — a segment where available supply remains structurally limited and new development is difficult to pencil. The competitive process described here, spanning more than a dozen candidate sites, signals that qualified tenants are absorbing what little inventory exists in core submarkets. For investors, this suggests that one- to three-acre industrial parcels near major logistics nodes carry meaningful pricing resilience, particularly as supply-chain operators continue to prioritize last-mile proximity over cost.
Source: Real Estate NJ