Delta Equity Management LLC and SWL Urban Renewal LLC are developing the 195,723-square-foot Harborview Logistics Center, as depicted in this rendering, at 71 New Hook Access Road in Bayonne — Courtesy: JLL
By Joshua Burd
A developer is eyeing a fall delivery for a project that will bring nearly 200,000 square feet of high-end industrial space to Bayonne, according to the firm and brokers with JLL.
In a news release, the leasing team said construction is well underway at 71 New Hook Access Road, a site that is 10 miles from Manhattan and minutes from the New Jersey Turnpike. Its development team, Delta Equity Management LLC and SWL Urban Renewal LLC, are slated to complete the 195,723-square-foot project by September and have tapped JLL to draw tenants to the space.
JLL Vice Chairman Joel Lubin, Executive Managing Director Brian Golden and Managing Director Gary Politi will lead the team at what’s known as Harborview Logistics Center.
“We are excited to bring this exceptional new development to market in one of the most sought-after industrial submarkets in the country,” Lubin said. “As demand from the e-commerce and logistics sectors continues unabated, we anticipate keen interest from operators under immense pressure to move goods competitively and quickly.”
Located near the well-known Marine Ocean Terminal at Bayonne site, the speculative new property will feature 46 dock doors and two drive-ins, according to a news release. It will also have 40-foot clear ceiling heights, a 135-foot truck court and parking for 32 trailers and 149 cars.
JLL also noted that Harborview Logistics Center has a 20-year payment in lieu of taxes agreement with the city that will reduce real estate taxes on the building for the long term.
“The location of Harborview Logistics Center is ideal for companies seeking a last-mile facility situated in a densely populated urban market with access to multiple transportation options, an accessible employee base and close to customers along the entire East Coast corridor,” Golden said.
The brokerage team cited the parcel’s proximity to Port Newark-Elizabeth and noted that, for the first time in history, New Jersey’s industrial vacancy dropped in 2021 to below 4 percent.
“This job-creating project will contribute to the economic recovery underway in Bayonne while providing vital logistics space in one of the world’s most land-constrained markets,” said Vincent DiDomenico, founder and managing member of DEM. “The uniquely strategic location of the project affords not only ‘last mile’ delivery into the NYC/North Jersey MSA but ‘first mile’ intermodal transport as well from the NJ/NY Ports of entry.”