Months after purchasing the Bayonne Distribution Center, Turnbridge Equities has chosen a leasing team and embarked on a $12 million modernization project.
NAI James E. Hanson, an independent commercial real estate firm, will handle leasing for the 613,129-square-foot property located at 130 and 169 Pulaski Street and 73-79 Gould Street in Bayonne. Russell Verducci, SIOR, Eric Demmers, and Colin Goldstein of NAI James E. Hanson will handle the assignment.
Bayonne Distribution Center is 17.9 acres and features three buildings. 169 Pulaski Street is the largest at two stories and 433,204 square feet with 28 loading docks and ceilings from 14 to 26 feet high. The two-story building at 73-75 and 77-79 Gould Street is 67,177 square feet with 14- to 28-foot ceilings and includes two exterior and two interior loading docks, plus one drive-in. 74-76 Gould Street totals 18,748 square feet, including three tailgates, 14-foot ceilings, plus an attached 1.8-acre industrial outdoor storage (IOS) lot. The final piece of the industrial complex is a 2.3-acre IOS lot.
The Bayonne site is located less than a mile from both Port Newark and Port Bayonne. The property is well-connected with easy access to the Garden State Parkway, the New Jersey Turnpike, and both the Lincoln and Holland Tunnels.
Turnbridge acquired the Bayonne Distribution Center this past spring. The $12 million in upgrades will bring the property up to modern industrial standards and should be finished in 2026. Teterboro-based NAI James E. Hanson and Turnbridge have worked together since 2019, when Hanson was chosen as the leasing team for the Ballantine Industrial Center in Newark’s Ironbound district.
“Turnbridge Equities has spent the past decade building a strong track record as a leading owner of institutional-grade industrial assets nationwide,” said NAI James Hanson’s Verducci. “We’re proud to continue our partnership with their team and look forward to bringing top-tier industrial tenants to this strategically located and highly adaptable property.”
