THE DEPO
30 UNION AVE, HASKELL (WANAQUE) NJ 07420
THIS DUAL-PHASE PROJECT LOCATED ON-TURN OFF I-287 IN THE HASKELL COMMUNITY OF WANAQUE BOROUGH NJ CONSISTS OF ONE APPROVED 272,000 SF CROSS-DOCK INDUSTRIAL BUILDING ON 31-ACRES (PHASE 1) AND ONE PROPOSED SHALLOW BAY COMPONENT TOTALING 100,000 SF ON 55 ACRES (PHASE 2). UPON COMPLETION, PHASE 1 OF THE PROJECT WILL FEATURE 40’ CLEAR, FULL BUILDING CIRCULATION, AMPLE LOADING (1 PER 3,160 SF) AND ABOVE MARKET AUTO/TRAILER SPACES, WHILE PHASE 2 WILL FEATURE TWO TERMINALS WITH 177 COMBINED TRAILER PARKING SPACES.
THE DEPO OFFERS EFFICIENT ACCESS TO LABOR AND AFFLUENT CONSUMERS IN BERGEN, PASSAIC, AND MORRIS COUNTIES VIA ROUTE-23 AND ROUTE-208. THE PROJECT ALSO PROVIDES ACCESS TO NYC, PORT OF NJ/NY, AND EWR VIA ROUTE-17 AND ROUTE-80. BULK DISTRIBUTION OCCUPIERS INCLUDING AMAZON, WALGREENS, FEDEX, RAYMOUR & FLANIGAN, AND OTHERS ARE LOCATED ALONG THE I-287 CORRIDOR STRADDLING THE NY STATE BORDER. THIS REGIONAL INDUSTRIAL SUBMARKET HAS AN OCCUPANCY RATE OF 93.8% WITH CURRENT CLASS-A TAKING RENTS EXCEEDING $20.00 PSF.
THE PROJECT HAS BEEN SUCCESSFULLY TAKEN THROUGH A MULTI-YEAR APPROVAL PERIOD AND HAS OBTAINED ALL NECESSARY PERMITTING TO COMMENCE SITEWORK ON PHASE 1. THE PHASE DEVELOPMENT TIMELINE, DIVISIBILITY, AND FINALIZED 30-YEAR PILOT WILL ATTRACT A VAST MAJORITY OF OCCUPIERS SEEKING REGIONAL CONNECTIVITY ALONG ONE OF THE MOST HEAVILY TRAFFICKED INTERSTATE CORRIDORS IN NNJ.
MASTER SITE PLAN
DEVELOPMENT SPECIFICATIONS
PHASE
AVAILABLE SF
OFFICE SF
SITE SIZE
BUILDING DIMENSIONS
CLEAR HEIGHT
LOADING DOCK DOORS
DRIVE-IN DOORS
LOADING FORMAT
TRUCK COURT DEPTH
TRAILER PARKING
AUTO PARKING
TAXES
ACCESS
ENTITLEMENT STATUS
AMENITIES
ASKING RATE
OPEX (EST.)
1
272,000 SF
TO SUIT
30.88
400' x 680'
40'
82
4
SINGLE-SIDE
130'
65+ (PHASE TWO)
144 (4 EV)
30-YEAR PILOT
I-287 (EXIT 55)
APPROVED
PARK + PANORAMIC VIEWS
$20.00/SF
$2.60/SF
2
272,000 SF
TO SUIT
54.
400' x 680'
40'
82
2
SINGLE-SIDE
130'
__
144 (4 EV)
30-YEAR PILOT
I-287 (EXIT 55)
PROPOSED
PARK + PANORAMIC VIEWS
$20.00/SF
$2.60/SF
2
272,000 SF
TO SUIT
54.
400' x 680'
40'
82
2
SINGLE-SIDE
130'
__
144 (4 EV)
30-YEAR PILOT
I-287 (EXIT 55)
PROPOSED
PARK + PANORAMIC VIEWS
$20.00/SF
$2.60/SF
2
272,000 SF
TO SUIT
54.
400' x 680'
40'
82
2
SINGLE-SIDE
130'
__
144 (4 EV)
30-YEAR PILOT
I-287 (EXIT 55)
PROPOSED
PARK + PANORAMIC VIEWS
$20.00/SF
$2.60/SF
PHASE 1 DEVELOPMENT VALUATION
TOTAL BUILDABLE SF
NET RENT PSF
MARKET VACANCY FACTOR
NET OPERATING INCOME
SPOT CAP RATE
SELLING COSTS
ADJUSTED SPOT CAP RATE
COMPLETED & STABILIZED BUILDING VALUE
COMPLETED & STABILIZED VALUE PSF
DEVELOPER'S SPREAD
DEVELOPERS YIELD TO COST
DEVELOPER'S BUILD TO VALUE
VALUE PSF
LESS: DEVELOPMENTS COSTS
DEVELOPMENT COSTS PSF
APPROVED LAND VALUE
LAND VAUE PSF
TARGET
250,000
$19.75
1.50%
$4.9M
4.95%
2.00%
5.05%
$96.3M
$385
1.50%
6.40%
$75.9M
$304
$53.4M
$214
$22.5M
$90
MID POINT
250,000
$19.25
1.50%
$4.7M
5.10%
2.00%
5.20%
$91.1M
$365
1.50%
6.55%
$72.4M
$289
$53.4M
$214
$18.9M
$76
CONSERVATIVE
250,000
$18.75
1.50%
$4.6M
5.25%
2.00%
5.35%
$86.3M
$345
1.50%
6.70%
$68.9M
$276
$53.4M
$214
$15.5M
$62
BUILDING LEASE COMPS
ADDRESS
100 PERFORMANCE DR, MAHWAH NJ
125 POMPTON PLAINS CROSSROAD, WAYNE NJ
25 MARKET ST, ELMWOOD PARK NJ
17-02 NEVINS RD, FAIR LAWN NJ
200 MALTESE DR, TOTOWA NJ
1000 MACARTHUR BLVD, MAHWAH NJ
1000 MACARTHUR BLVD, MAHWAH NJ
TENANT
QUICKBOX
SILK ROAD
MLB NETWORK
BROOKAIRE
REGAL COMMODITIES
WALGREENS
I-LABS
BASE
$15.95
$18.00
$28.50
$18.15
$17.15
$20.00
$18.50
OPEX
$
$__
$ __
$4.95
$2.50
$3.75
$3.75
RSF
271,176
70,000
206,826
152,076
208,566
100,000
56,000
TERM (MO.)
96
84
240
--
120
120
60
INCREASES
3.50%
3.00%
--
--
3.50%
4.00%
3.50%
FREE RENT (MO)
0
6
--
--
0
0
0
TI
0
$6
--
--
$0
$0
$0
CLEAR
36'
40'
40'
36'
22'-32'
40'
40'
LD | DI
__
__
32 | 2
28 | 2
34 | 4
34 | 2
34 | 2
DATE
Q1, 2026
Q1, 2026
Q2, 2024
Q4, 2024
Q2, 2024
Q1, 2024
Q1, 2024
NORTHERN & CENTRAL NEW JERSEY INDUSTRIAL
8.0%
VACANCY RATE
-1.2M
SQ FT NET ABSORPTION
7.7M
SQ. FT. UNDER CONSTRUCTION
$18.92
NNN / CLASS A LEASE RATE PER SQ FT
$17.09
NNN / LEASE RATE PER SQ FT
MARKET
DISTRICT
CENTRAL BERGEN
FAIRFIELD MARKET
HUDSON WATERFRONT
MEADOWLANDS
MORRIS REGION
NEWARK
NORTHEAST BERGEN
NORTHWEST BERGEN
ROUTE 23 NORTH
ROUTE 280 CORRIDOR
ROUTE 46/32/2 INTERCHANGE
SUBURBAN ESSEX
NORTHERN NJ TOTAL
BRUNSWICKS/EXIT 9
CARTERET/AVENEL
CENTRAL UNION
EXIT 8A
HUNTERDON/WARREN
LINDEN/ELIZABETH
MONMOUTH
PRINCETON
ROUTE 287/EXIT 10
ROUTE 78 EAST
SOMERSET
TRENTON/295
CENTRAL NJ TOTAL
NJ TOTAL
TOTAL
INVENTORY
30.1M
18.5M
60.8M
92.3M
44.2M
48.5M
7.8M
18.5M
0.7M
4.1M
56.6M
5.3M
387.4M
29.6M
34.4M
22.2M
82.0M
15.1M
44.0M
28.5M
14.6M
112.5M
9.2M
41.0M
30.8M
463.8M
851.2M
VACANCY
RATE
7.2%
6.3%
8.9%
7.0%
12.3%
5.6%
3.3%
8.6%
3.2%
7.0%
4.7%
5.7%
7.3%
7.7%
8.7%
5.3%
11.4%
20.4%
8.8%
7.2%
7.9%
6.8%
3.4%
6.8%
10.1%
8.6%
8.0%
CLASS A
AVG ASKING RENT
--
--
$25.01
$25.29
$17.46
$28.50
--
$21.65
--
--
--
$24.50
$21.66
$18.00
$19.29
$19.25
$16.16
$13.50
$24.85
$16.38
$13.50
$19.47
--
$17.85
$14.11
$18.18
$18.92
ALL SPACE
AVG ASKING RENT
$16.14
$17.06
$18.74
$19.17
$16.42
$18.15
$16.10
$17.76
--
$11.87
$16.24
$22.58
$17.88
$15.32
$18.79
$17.05
$15.65
$12.76
$19.17
$15.51
$13.60
$17.58
$14.64
$16.19
$13.76
$16.61
$17.09
LEASING
ACTIVITY
78,700
191,200
619,200
1,355,000
320,700
193,100
71,500
278,600
89,300
23,000
440,700
0
3,661,200
468,700
601,000
61,800
1,974,300
8,500
551,800
80,300
79,800
1,080,300
0
301,300
308,500
5,516,300
9,177,500
NET
ABSORPTION
-133,500
17,100
307,700
373,300
-601,600
132,700
-29,900
-214,300
-3,500
29,800
-53,300
15,000
-160,300
108,000
551,200
-162,000
252,500
-28,500
-123,000
54,200
-279,800
-882,600
-33,000
-522,500
48,300
-1,018,200
-1,178,400
UNDER
CONSTRUCTION
0
0
76,900
1,286,400
1,055,800
0
0
0
0
0
0
0
2,419,200
195,400
0
0
0
370,000
0
2,583,700
0
155,300
0
370,800
1,618,100
5,293,300
7,712,400
MARKET AREA OVERVIEW
1. ROUTE 23 NORTH
2. NORTHWEST BERGEN
3. NORTHEAST BERGEN
4. MORRIS REGION
5. ROUTE 46/23/3 CORRIDOR
6. CENTRAL BERGEN
7. FAIRFIELD MARKET
8. ROUTE 280 CORRIDOR
9. SUBURBAN ESSEX
10. MEADOWLANDS
11. HUNTERDON/WARREN
12. SOMERSET
13. ROUTE 78 EASST
14. CENTRAL UNION
15. LINDEN/ELIZABETH
16. NEWARK
17. HUDSON WATERFRONT
18. PRINCETON
19. BRUNSWICKS/EXIT 9
20. ROUTE 287/EXIT 10
21. CARTERET/AVENEL
22. TRENTON/295
23. EXIT 8A
24. MONMOUTH
DEFINITIONS
ASKING RENT: WEIGHTED AVERAGE ASKING RENT
AVAILABILITY RATE: THE AMOUNT OF SPACE CURRENTLY BEING MARKETED FOR LEASE, DIVIDED BY THE TOTAL CURRENT INVENTORY OF BUILT SPACE IN THE MARKET, EXPRESSED AS A PERCENTAGE.
LEASING ACTIVITY: TOTAL AMOUNT OF SQ. FT. LEASED WITHIN A SPECIFIED PERIOD OF TIME, INCLUDING NEW DEALS, EXPANSIONS, AND PRE-LEASING, BUT EXCLUDING RENEWALS.
LEASING VELOCITY: TOTAL AMOUNT OF SQ. FT. LEASED WITHIN A SPECIFIED PERIOD OF TIME, INCLUDING NEW DEALS, EXPANSIONS, AND PRE-LEASING AND RENEWALS.
NET ABSORPTION: THE CHANGE IN THE AMOUNT OF OCCUPIED SQ. FT. WITHIN A SPECIFIED PERIOD OF TIME.
TAKING RENT: ACTUAL, INITIAL BASE RENT IN A LEASE AGREEMENT.
VACANCY: UNOCCUPIED SPACE AVAILABLE FOR LEASE.
THIS MATERIAL HAS BEEN PREPARED BY D4 PROPERTIES LLC (“D4”) FOR INFORMATIONAL PURPOSES ONLY AND REFLECTS CURRENT MARKET VIEWS, ASSUMPTIONS, AND PROJECTIONS AS OF THE DATE HEREOF. SUCH VIEWS ARE INHERENTLY SUBJECTIVE, SUBJECT TO CHANGE, AND MAY DIFFER FROM THOSE OF OTHER MARKET PARTICIPANTS. NO REPRESENTATION OR WARRANTY IS MADE AS TO THE ACCURACY OR COMPLETENESS OF THE INFORMATION PROVIDED. NOTHING HEREIN CONSTITUTES AN OFFER TO SELL OR A SOLICITATION TO BUY ANY SECURITIES, NOR SHOULD IT BE RELIED UPON AS AS INVESTMENT, LEGAL, OR FINANCIAL ADVICE. PAST OR PROJECTED PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS. D4 UNDERTAKES NO OBLIGATION TO UPDATE THIS MATERIAL AND DISCLAIMS ALL LIABILITY FOR ANY LOSS ARISING FROM ITS USE OR RELIANCE. BY ACCESSING THIS MATERIAL, YOU AGREE TO WAIVE ANY CLAIMS AGAINST D4 AND ITS AFFILIATES, OFFICERS DIRECTORS, EMPLOYEES, AND REPRESENTATIVES.
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