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Real Estate Journal — Northern New Jersey — December 13 - 26, 2019 — 5B


M id A tlantic

Acquires 12.62 acre development site at 49 Rutherford Street in Newark CenterPoint Properties acquires trophy asset on 44-acre site in Northern NJ J

via the nearby Holland and Lincoln Tunnels. “We are excited to acquire this prime development site in the Northern New Jersey market. Once complete, 49 Rutherford will feature best- in-class specifications for high throughput and e-commerce tenants, such as a high door count and an abundance of trailer parking. This develop- ment project is consistent with the CenterPoint strategy of acquiring and developing lower coverage infill facilities in the top port markets and popula- tion centers in the country,” said Evan Lippow , Center- Point VP of Investments. 49 Rutherford will be a 185,856 s/f facility with 45 dock doors, 80 trailer positions, 155 automobile parking spaces, and a 40’ clear height. It also boasts excellent visibility, with 1,000 linear feet of frontage on the New Jersey Tpke. in both directions. CenterPoint is cur- rently targeting a delivery date of fourth quarter 2020.  The convenient location offers an added benefit for golf and tennis aficionados and those interested in pick- ing up the games, with the new storefront being eas- ily accessible on their way to and from New Jersey’s popular tennis courts and golf courses. “The space is an ideal, convenient location for golf and tennis enthusiasts,” said Tselepis. “We are excited that this opportunity aligned to bring an exciting new retail option to an area that many already favor.” “It’s been thrilling to work with such a progressive and innovative company as PGA TOUR Superstore,” says Hugh Scullin, Vice President of Real Estate with Katz & Associates. “We are looking forward to the opening of the second store in this dynamic New Jersey market.”

for the portfolio one and two buildings at a time,” said PJ Charlton , CenterPoint senior vice president of investments. Built in 2016, the building features 99 dock doors and a 36’ clear height. There are 371 trailer parking spots on the property. The trailer ratio is 11.76 per 10,000 s/f, nearly five times the trailer ratio for com- parable properties in the area. This purchase comes close on the heels of another recent CenterPoint acquisition in New Jersey—a superb develop- ment site at 49 Rutherford in Newark. In the acquisition of 1049 Secaucus, the seller was rep- resented by Brian Fiumara of CBRE National Partners . CenterPoint Properties an- nounced the acquisition of a prime development site situ- ated on 12.62 acres at 49 Ruth- erford St. in Newark. Strategi- cally located just a few miles from the Port, the location offers immediate access to the NJ Tpke., Rte. 1/9 and NYC

ERSEY CITY AND NEW- ARK, NJ — CenterPoint Properties announced the acquisition of a 315,389 s/f building on an extremely rare 44.1-acre site at 1049 Secaucus Rd. in Jersey City. Strategi- cally located in the heart of the Northern New Jersey in- dustrial market, the property offers excellent access to the New Jersey Tpke., NYC and nearby ports. We are pleased to acquire this class A, last-mile facil- ity in the heart of the largest U.S. population center. One of the biggest advantages to this property is the tremendous parking. The building-to-land ratio is just 16%. This low site coverage offers tenants ample land for their parking needs— trailer, auto, last-mile delivery vans—you name it,” said Evan Lippow , CenterPoint Vice President of Investments. Because of its excellent lo- cation (just five miles from Manhattan and New Jersey’s Gold Coast) and extraordinary EAST HANOVER, NJ — Global commercial real estate advisory firm New- mark Knight Frank (NKF) and Katz & Associates are pleased to announce a 37,364 s/f lease at 98 Rte. 10 West in East Hanover. A new PGA TOUR Superstore will be opened at the space, which is owned by Williams Parkway LLC. AnNKF teamof manag- ing director Dean Tselepis and director Jerry Putter- man represented ownership while Hugh Scullin of Katz & Associates represented PGA TOUR Superstore. 98 Rte. 10 West is located in the heart of numerous commercial and business complexes in East Hanover. The ground-level space is conveniently situated among popular retail, dining and en- tertainment options located along Rte. 10. Easy access to highways Rte. 80 and Rte.

1049 Secaucus Rd., Jersey City

49 Rutherford St., Newark

auto and trailer parking, the property is a mission-critical facility for the tenant, one of the largest delivery companies in North America. “This is a one-of-a-kind, last-mile asset that exempli- fies CenterPoint’s investment

strategy of buying logistically advantaged real estate in the top port and population center markets in the country. Over the last 24months the company has invested $2 billion within our selected markets—largely targeting strategic buildings

Katz &Associates and NKF broker retail lease deal for New PGA TOUR Superstore in East Hanover

with access to the same tech- nology and expertise as card- carrying PGA TOUR pros and offers free custom club fitting. The new East Hanover store will be staffed with certified teaching profes- sionals and offer golf lessons and clinics, multiple state- of-the-art swing simulators, practice hitting bays, and a 98 Rte. 10 West in East Hanover

287 makes the area a cen- tralized North Jersey hub for Morris, Essex and Union counties. The new PGA TOUR Su- perstore store is scheduled to open in early 2020. PGA TOUR Superstore, the coun- try’s leading golf equipment, apparel and accessories des- tination, provides customers

large putting green. There will also be an in-house club making and repair facil- ity. Along with equipment and accessories, and like its Paramus counterpart, PGA TOUR Superstore will offer an unmatched selection of men’s, women’s and juniors’ apparel and footwear for golf and tennis.

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