CenterPoint Properties Announces the Acquisition of 1800 Lower Road, Linden, NJ
Posted By Staff Writers On April 3, 2015 @ 6:58 pm
OAK BROOK, IL – CenterPoint Properties proudly announces the acquisition of a 386,296 square foot port-proximate industrial facility at 1800 Lower Road, Linden, New Jersey. Jeffery Miller of Lee & Associates represented CenterPoint in the transaction. CenterPoint has acquired 23 properties in New Jersey since entering the market in 2010, proving a strong commitment to the region.
The fully leased distribution facility is situated on approximately 18 acres of land, with unparalleled trailer storage capacity, which has proven to be a unique asset in this market. The facility features exceptional access to Route 1 and 9, the major truck routes in New Jersey, and easy accessibility to the I-95 turnpike, Garden State Parkway and I-287 Corridor.
“We are excited about the growth potential the facility lends to support our mission of investing in port-related products,” said Jed Degnan, Vice President, Investments of CenterPoint. “We are finding that users are in need of industrial space strategically located with immediate access to major highways and population centers. Our expertise in identifying logistically-advantaged properties, restoring the facilities, and executing professional and effective property management, enhances the user experience, aiding our company’s vision of a national presence supporting the real estate needs of our current and future tenants.”
The property is located within seven miles of the Port of New York/New Jersey and features 600 car parking (expandable), 30’ clear height, 59 docks, 6 drive-in doors and is configured to suit the needs of an e-commerce tenant.
Currently, the facility is leased to Waitex Group, which is a worldwide conglomerate of companies focusing on supply chain logistics, apparel, retail and real estate investment and development.
About CenterPoint Properties
CenterPoint Properties is focused on the development, acquisition and management of industrial property and transportation infrastructure that enhances business and government supply chain efficiency. The company invests in major coastal and inland port logistics markets anchoring North America’s principal freight lanes. For more information on CenterPoint Properties, visit www.centerpoint.com or follow @centerpointprop on Twitter.
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