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M id A tlantic Real Estate Journal — Northern NJ — June 17 - July 21, 2022 — 5B
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Foundation work underway at former Military Ocean Terminal Site Lincoln Equities Group breaks ground on spec warehouse building at Lincoln Logistics Bayonne
B AYONNE, NJ — Foun- dation work is under- way at the site of a spec warehouse building at Lincoln Logistics Bayonne, marking another groundbreaking at the award-winning redevelopment of the 153-acre former Military Ocean Terminal property. This significant milestone introduces Lincoln Logistics Bayonne’s final leasing op- portunity – one ideally suited for e-commerce and last-mile delivery providers. Developer Lincoln Equities Group anticipates a year-end delivery for the 330,000 s/f structure, which has five acres set aside for parking; Cushman & Wakefield is marketing the property. The new spec struc- ture neighbors an 886,000 s/f build-to-suit warehouse, also under construction, which will serve as a regional hub and package distribution center
The site of a spec warehouse building at Lincoln Logistics Bayonne. for UPS. “Lincoln Logistics Bayonne represents the largest infill industrial redevelopment in the New York Metro Area,” said Lincoln Equities Group’s Joel Bergstein , president. “Upon completion, these two
Lincoln Logistics Bayonne spec building
state-of-the-art warehouse and distribution facilities will fulfill our vision of designing a modern portside distribution center that offers an unparal- leled gateway to the entire East Coast Corridor via water, land and air.” Situated on a waterfront peninsula in the heart of the
Port of New York/New Jersey, Lincoln Logistics Bayonne is the closest development site to Global Container Marine Terminal, which is located 800 feet away with direct access via a private roadway. Just five miles from Manhattan and nine miles from Newark Liberty International Airport, Lincoln
Logistics Bayonne provides robust roadway ingress/egress via the NJ Turnpike (new Exit 14A interchange), I-78 and Route 440. Public transporta- tion, including NJ Transit’s Hudson-Bergen Light Rail and Ferry Service (coming soon), is easily accessible to employees and visitors. MAREJ
NAI James E. Hanson’s Team Perkins & Todd represent institutional investor in acquisition of Wayne, NJ class A industrial building
WAYNE, NJ — NAI James E. Hanson has negotiated the sale of a 117,340 s/f industrial building at 100 Demarest Dr. in Wayne. NAI James E. Han- son’s Team Perkins & Todd comprised of Scott Perkins, SIOR, Chris Todd, SIOR and William Ericksen represent- ed the buyer, CenterPoint , and worked closely with Cen- terPoint Investment Officer Bryan Won throughout the transaction with the seller, 100 Demarest Drive, LLC. 100 Demarest Dr. is situated on 10.5 acres less than a mile from the intersection of Route 23 and Interstate 80. Fully leased with 26’ clear ceiling heights and a highly adaptable layout, the building was an ide- al acquisition for CenterPoint. The acquisition is the latest success story for Team Perkins & Todd’s relationship with CenterPoint. In late 2021, the team also helped negotiate a long-term full-building lease at a newly constructed 182,000 s/f spec warehouse built by CenterPoint adjacent to Port Newark. The team’s counsel
Scott Perkins
Chris Todd
William Ericksen ideal acquisitions and meet their business goals in this competitive market.” In a separate Northern NJ transaction, NAI James E. Hanson has negotiated the sale of a 10,400 s/f industrial building at 7 Aaron Way in the White Lake Commerce Park in Sparta. NAI James E. Han- son’s John Schilp represented the buyer, Timna, LLC, and Harford Real Estate repre- sented the seller, Harko Hold- ings, LLC, in the transaction. 7 Aaron Way is a 10,400 s/f industrial flex building situ- ated on 1.89 acres in Sparta’s newest and most successful industrial development, White Lake Commercial Park. Boast- ing 21’ clear ceiling height,
and guidance were critical in CenterPoint’s ability to negoti- ate a deal that saw a Fortune 500 company commit to a rent that was 27% above initial pre- construction projections. “We continue to see insti- tutional capital flowing at unprecedented rates into the northern New Jersey indus- trial market,” said Perkins. “With virtually zero available buildings in many markets surrounding the Port as well as the New Jersey Turnpike, these investors are increas- ingly looking further west to markets like Wayne. Through leveraging our on the ground presence and local relation- ships, this deal exemplifies our ability to help our clients find
100 Demarest Dr.
four 14’ overhead drive-in doors, and no columns, the property is also situated in an economic development zone to provide ideal flexibility for future tenants. Recognizing their unmatched expertise and ability to act quickly for their clients, the buyer enlisted NAI James E. Hanson to utilize their market knowledge in order to meet the
needs of a 1031 requirement. With a deadline approaching, Schilp provided a variety of op- tions with 7 Aaron Way being selected by the buyer due to its location, presentation and multi-use potential. Timna, LLC has also retained Schilp to handle leasing for the property and help them capitalize on the demand for quality industrial space in Sparta area. MAREJ
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