169 Pulaski St. in Bayonne — Courtesy: JLL
By Joshua Burd
Turnbridge Equities has acquired some 613,000 square feet of industrial space on nearly 18 acres in Bayonne with the help of an $80.27 million loan arranged by JLL.
The advisory team, which sourced the loan on the borrower’s behalf, said an undisclosed lender provided the debt in connection with the deal at 169 Pulaski St. The brokers added that the three-building complex is currently 90 percent leased to Waitex Global International, a logistics firm that has occupied the site for more than 21 years and will execute short-term leasebacks on portions of the space while the new owner implements a value-add business plan.
JLL added that the buildings have a combined 48 loading docks, ceiling heights up to 28 feet and parking for more than 225 trailers, while the 17.9-acre property includes 2.16 acres of industrial outdoor storage space. Users are less than a mile from the Global Container Terminal in Bayonne and minutes from major highways, providing easy access to New York City, Port Newark-Elizabeth and Newark Liberty International Airport.
