CenterPoint Acquires Distribution Center in Northern New Jersey
Posted By Staff Writers On October 18, 2017 @ 9:26 am
OAK BROOK, IL – CenterPoint Properties is pleased to announce the acquisition of a new, 163,253 SF distribution center located at 95 Demarest Drive in Wayne, New Jersey. Britton Burdette of Stan Johnson Company represented the seller.
“This facility is a strategic, last-mile asset, located in the underserved Northern New Jersey industrial market,” said PJ Charlton, Senior Vice President of Investments at CenterPoint. “Given its proximity to New York City’s dense population, we are excited to acquire a premier building in one of the most important e-commerce markets in the country.”
The state-of-the-art distribution center is fully leased on a long-term basis to one of the largest delivery companies in North America. Located on 14 acres, this modern, Class A facility was built in 2016 and has immediate access to major highways, including I-80 and US 46. Additionally, the warehouse is within 30 miles of 13.5 Million people. The building is strategically located 20 miles from the George Washington Bridge, 24 miles from the Newark Airport, 26 miles from Port Newark and 32 miles from the Port of New York and New Jersey. Property features include 90 trailer parking spots, 219 car parking spots, 44 dock high doors and 28’ clear heights.
“This is our second acquisition in Northern New Jersey this year, bringing our New Jersey/New York portfolio to more than 4.5 Million SF,” said Charlton. “In the last three years, CenterPoint has invested over $1.8 Billion in acquisitions and development across the United States, and we will continue to aggressively seek out additional acquisition opportunities – particularly in the port markets of Northern New Jersey, Los Angeles, San Francisco Bay Area, South Florida and Seattle.”