Faux Flower Seller Leases 38,000 Sq. Ft. in Newark as Part of Three New Deals by Bussel Realty Corp.

320 Elizabeth Ave. in Newark — Courtesy: Bussel Realty Corp

Bussel Realty Corp. (BRC) has announced three new industrial deals, including a significant lease with home décor company My Flowers USA Inc. The company has secured 38,207 square feet of space at 320 Elizabeth Ave. in Newark to accommodate its growing operations. The lease, signed with RHS Realty Group, will see My Flowers USA, a seller of lifelike artificial flowers and related products, occupy the facility. BRC's Jordan Metz, Ben Abbate, and James Friel represented the landlord in the transaction, while NJR Group LLC represented the tenant.

The lease deal evolved when My Flowers USA initially signed for 26,007 square feet. However, when an adjacent tenant offered to downsize, the company was able to expand its leased area by 12,200 square feet to meet its future growth needs. "We pulled off the rare two-for-one 'tenant space exchange,'" said Metz. "My Flowers quickly realized the space met their requirements and took advantage of the opportunity for expansion."

BRC also facilitated a sublease for Overnight Freight Inc., a shipping and logistics company, at 125 James Ave. in Jersey City. The firm secured 14,000 square feet of warehouse space and two acres of outdoor industrial storage. This location, described as a "functional truck terminal," provides valuable fleet parking in a market with limited available space. CBRE represented the sublandlord, Staples Inc.

In another deal, BRC represented Neu Holdings Corp. in a lease for three acres of outdoor industrial storage space at 150 Pacific St. in Jersey City. The tenant, an undisclosed transportation and warehouse services firm, will benefit from the prime location near the Holland Tunnel and New York City markets.

BRC’s Jordan Metz noted the increasing demand for industrial outdoor storage, which has been growing rapidly in recent years. The firm is also marketing additional space at 150 Pacific St., including two more acres of outdoor storage and 176,132 square feet of warehouse space.