TENANTS SIGN TWO INDUSTRIAL LEASES TOTALING 740,000 SF

JERSEY CITY, N.J. — Two tenants took advantage of state incentive programs designed to attract and retain companies in New Jersey, leasing a total of 740,000 square feet at the Pulaski Distribution Center in Jersey City. Online grocer Peapod signed a lease for 345,000 square feet. The firm was awarded approximately $34.6 million in Urban Transit Hub Tax Credits approved by the New Jersey Economic Development Authority (NJEDA). Imperial Bag & Paper Co. signed a lease for 395,000 square feet. The firm, which will relocate from a site in Bayonne, N.J., received $29.1 million in Grow New Jersey credits. Robert Kossar, David Knee, Blake Chroman and Christopher Hile of Jones Lang LaSalle represented the property owner, Prologis, in the transactions.