JLL Capital Markets arranged $80.27 million in acquisition funding for a prime industrial property in Bayonne on behalf of New York City-based Turnbridge Equities.
The 17.9-acre site at 169 Pulaski Street includes three industrial buildings totaling 613,000 square feet and more than 2 acres of outdoor industrial storage space. With parking for over 225 trailers, the property features 48 loading docks and ceiling heights that reach up to 28 feet.
Currently, Waitex Global International, a global logistics company, holds leases on 90% of the property at 169 Pulaski Street and has had a footprint on the site for more than 21 years. The company will move forward with short-term leasebacks on parts of the property while the new owners implement a value-add business plan.
169 Pulaski Street sits just off Route 440 and is one mile from Global Container Terminals (GCT) Bayonne ExpressRail Port Jersey, a key component of the Port of New York and New Jersey, the largest port complex on the East Coast. This prime location also affords easy access to major highways, Newark Airport, New York City, and other New Jersey port facilities.
