August 22, 2008
Italian Company Leases Secaucus Warehouse
By RICHARD NEWMAN, STAFF WRITER
An Italian logistics company has chosen a Secaucus address to launch a U.S. operation.Snatt USA Inc., a third-party service provider, has taken a five- year lease on 50,718 square feet of warehouse and distribution space at 20 Enterprise Ave.
Marco Palazzi, Snatt USA president, said the company is expected to be running later this year and will employ 10 to 15 people. The company, which initially will own no trucks, will hire truckers to pick up goods at airports and piers. In Secaucus, it will sort the items and load them on hired trucks for shipment to stores. Clients will primarily be European exporters of designer clothing. Palazzi said he likes the proximity to Manhattan and that the space is "a perfect size."
"We wanted to begin in North America as a small start-up operation, but we plan to eventually develop just as large of an operation in North America as we have in Europe," he said.
Snatt Logistics, based near Milan, has more than 1.5 million square feet of warehouse and office space in Europe, he said.
Real estate broker Chaus Realty of Hasbrouck Heights represented Snatt in the transaction. Financial terms of the deal announced Thursday by Secaucus-based landlord Hartz Mountain Industries Inc. were not disclosed.
Emanuel Stern, Hartz's president and chief operating officer, noted in a statement that Snatt USA is the latest in a string of companies to lease space recently in the Meadowlands which Hartz has been touting on billboards as a more affordable alternative to Manhattan.
For example, Scharff Weisberg Inc. and B.Moss took spaces in Secaucus that measure almost 100,000 square feet each, and Meadowlands Display & Packing Inc. leased 84,645 square feet in Clifton.
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