Lincoln Equities Group is planning a speculative 332,640-square-foot distribution facility at its Lincoln Logistics Bayonne site, as depicted in this rendering. — Courtesy: Ford & Associates
By Joshua Burd
Lincoln Equities Group is set to begin construction on the latest piece of its new logistics campus in Bayonne, where plans call for another 333,000 square feet of speculative industrial space.
Located just east of Route 440, the new facility will come to a 153-acre waterfront redevelopment site that has already attracted shipping giant UPS. The developer expects to deliver the structure and some five acres of parking capacity by year-end, having tapped Cushman & Wakefield as its leasing agent for what will be Building 100.
“We designed Lincoln Logistics Bayonne to set the highest standard for modern portside logistics worldwide,” said Joel Bergstein, LEG’s president. “As the newest and most innovative last mile warehouse and distribution center in the region, it offers an unparalleled gateway to the entire East Coast corridor via water, land and air.”
The firm noted Wednesday that the growing logistics campus is just 800 feet from Global Container Marine Terminal, five miles from Manhattan and nine miles from Newark Liberty International Airport. It also provides quick access to the New Jersey Turnpike and other area highways, drawing from a strong labor pool and with 59 million consumers within a five-hour drive.
The 332,640-square-foot distribution facility will be just west of the 886,256-square-foot building now under construction at 42 Military Ocean Terminal, which LEG started a speculative project before preleasing it to UPS. The developer sold the property last fall.
“This is the right time to make a move,” said Cushman & Wakefield’s Jules Nissim, who is heading the leasing team with Stan Danzig and Stephen Elman. “The port market is red-hot, with an industrial vacancy rate under 2 percent. Lincoln Equities Group is one of the most well-established and respected developers in its sector, and the firm has designed a highly visible, state-of-the-art facility ideally suited for e-commerce and same-day delivery providers.”