CenterPoint Acquires Last-Mile Facility in Jersey City
Press Releases
Posted By Staff Writers On October 7, 2019 @ 2:00 pm
OAK BROOK, IL – CenterPoint Properties is proud to announce the acquisition of 101 Linden Avenue East in Jersey City, New Jersey. The property consists of a 74,304-square-foot building on 5.38 acres and is located within proximity to both the Holland and Lincoln Tunnels into Manhattan.
“New York City represents the largest consumer population in the country and creates distinct logistical challenges. Located less than four miles from Manhattan, this property’s site security and excess parking are unique characteristics that are irreplaceable in the ‘last-mile’ supply chain, and are certain to enhance in value over time,” said Evan Lippow, CenterPoint Vice President of Investments.
The property benefits from four dock-high doors and four grade-level doors, which facilitate access to a portion of the building that can be used as a drive-in warehouse. The site offers 50 automobile spaces and comes with an extra 1.5 acres of land that can accommodate parking spaces for 55 delivery vehicles and includes a 3,000-square-foot vehicle maintenance facility. Additionally, the property possesses approximately 30,000 square feet of temperature-controlled warehouse, which combined with the above-market vehicle parking, creates a unique facility for potential food-and-beverage distributors.
“This building is a valuable addition to CenterPoint’s growing portfolio in the New Jersey/New York market. 101 Linden Avenue East is a highly functional ‘throughput’ building, located at Exit 14B, with excellent access into Manhattan,” said David Nenner, CenterPoint Senior Vice President, Regional Manager.
101 Linden Avenue East was a vacant acquisition and is ready for immediate occupancy. The team of Stan Danzig, Steve Elman, Jules Nissim and Michael Terranova from Cushman & Wakefield represented the Seller in this transaction and will be representing CenterPoint in the leasing of the building.
In recent news, the Company announced the expansion of PIM Brands, LLC’s facility in Somerset, New Jersey.
For more information on leasing this building, please contact David Nenner (dnenner@centerpoint.com). For acquisition opportunities, please contact PJ Charlton (pjcharlton@centerpoint.com) or Evan Lippow (elippow@centerpoint.com).
About CenterPoint Properties
CenterPoint is an industrial real estate company made up of dedicated thinkers, innovators and leaders with the creativity and know-how to tackle the industry’s toughest challenges. And it’s those kinds of problems—the delicate, the complex, the seemingly-impossible—that we relish most. Because with an agile team, substantial access to capital and industry-leading expertise, those are exactly the kinds of problems we’re built to solve. For more information on CenterPoint Properties, visit centerpoint.com, follow @CenterPointProp on Twitter or engage with us on LinkedIn.
