1100 Newark Turnpike in Kearny — Courtesy: Kassin Sabbagh Realty
By Joshua Burd
Brookfield Asset Management has acquired the site of a nearly 57,000-square-foot industrial building in Kearny, in a deal reportedly valued at $67.25 million.
According to Kassin Sabbagh Realty, which brokered the sale at 1100 Newark Turnpike, rail operator CSX sold the parcel to the global investment manager. The site reportedly is home to a 56,700-square-foot transloading facility for transferring freight between trucks and railcars, although Brookfield’s plans for the property were not immediately clear.
Kassin Sabbagh’s Isaac R. Setton and Bunny Escava brokered the sale, which was previously reported by Traded New Jersey. The building underwent a significant renovation in 2020, according to BLDUP.com, resulting in a new roof and siding materials, a repaved parking lot and the demolition of a former CSX maintenance garage.
