Colliers: Cejon Inc. Extends 84,000-SF Industrial Lease in Bayonne

BAYONNE, N.J., Oct. 3, 2017 - Fashion accessories manufacturer Cejon Inc. has extended its 84,000-square-foot industrial lease at 51-53 Hook Road in Bayonne, announced Colliers International NJ LLC. (NASDAQ: CIGI, TSX: CIG). Cejon a Manhattan based company that is an officially licenced accessory house for Steve Madden, Betsey Johnson and Big Buddha has maintained its regional warehouse/distribution operation at the Hook Road property since 2005.

Colliers' Dick Hecker, based in the global commercial real estate services firm's Parsippany, N.J., office, represented Cejon in this transaction. "The Hook Road property provides excellent highway access and proximity to Cejon's many clients within the dense New Jersey retail market," he said. "We were pleased that Hartz Mountain Industries - the property's ownership - offered attractive extension terms, enabling my client to remain in place."

Hecker noted the 300,000-square-foot, multi-tenant building also offers functional loading and ample parking to serve a thriving distribution operation, at a time when demand continues to outpace supply in New Jersey's Port submarket.

"Industrial in and around the Port Newark-Elizabeth Marine Terminal is extremely hot, with sustained single-digit vacancy rates," Hecker said. "There simply are not many options for tenants looking to relocate locally. That reality, combined with the cost of moving and strong ownership facilitated Cejon's decision to pursue the extension at 51-53 Hook Road."

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