Nestlé Secures Largest Industrial Lease in North Jersey for Q1 2024
Global food and beverage giant Nestlé claimed the largest industrial lease deal in North Jersey during the first quarter of 2024, according to new market data. The Swiss multinational signed a full-building lease for a 674,000-square-foot distribution center at the 8 Porete Avenue complex in North Arlington, a key logistics asset strategically located near New York City.
The facility, developed by Greek Development and Advance Realty Investors, sits within the 35-acre Belleville Turnpike Industrial Park. Its proximity to critical transportation infrastructure, including the New Jersey Turnpike and Port Newark-Elizabeth, enhances Nestlé’s regional supply chain capabilities. The lease marks a significant footprint expansion for the brand in one of the tightest industrial markets in the U.S.
Largest Q1 Lease in North Jersey
CBRE identified Nestlé’s commitment as the largest industrial lease by square footage in North Jersey for the quarter. The region continues to experience constrained industrial inventory, driven by e-commerce growth and reshoring of consumer goods manufacturing. Nestlé’s move reflects ongoing demand among FMCG leaders for high-quality logistics hubs that enable faster fulfillment and greater efficiency.
Industry analysts note that heightened competition for strategically located warehousing is pushing companies to lock in larger spaces long-term, often before construction is complete. The North Arlington facility, while still under development at the time of lease, offered Nestlé the size and access required to support its growing U.S. distribution needs.
Broader Market Impact
The lease reinforces Northern New Jersey’s importance as a distribution corridor for CPG brands targeting the Northeast. With vacancy rates in prime submarkets dipping below 3%, brands with aggressive fulfillment or DTC ambitions are racing to secure long-term space in locations offering port and population access.
As consumer demand for faster delivery persists, securing modern, scalable warehousing is becoming a strategic imperative for CPG multinationals. Nestlé’s transaction in North Arlington is emblematic of that trend—and sets the tone for logistics-led growth strategies in 2024 and beyond.