169 Pulaski St. in Bayonne — Courtesy: Turnbridge Equities
By Joshua Burd
Turnbridge Equities has landed a tenant for a newly acquired industrial complex in Bayonne, leasing more than 255,000 square feet to a global logistics firm.
The occupier, TWTH Express, will use the space at 169 Pulaski St. as its newest warehouse and distribution facility, in a deal that comes as the landlord carries out a $12 million renovation and repositioning of the three-building portfolio. It also comes just three months after Turnbridge’s acquisition of the complex from Waitex Global International, a logistics firm that has occupied the site for more than 21 years and planned to execute short-term leasebacks on portions of the space during the forthcoming updates.
Russell Verducci of NAI James E. Hanson represented Turnbridge in the long-term, 255,069-square-foot deal, which fills part of the portfolio’s largest building. Chris Okada of Okada & Co. and Emanuel Westfried of Two Bins Capital represented TWTH.
“We’re excited to welcome TWTH to the property and continue our momentum in stabilizing this highly strategic asset,” said Ryan Nelson, managing principal of Turnbridge Equities. “The Bayonne location offers unbeatable access to the Port of New York and New Jersey, as well as New Jersey and New York City, and we’re confident that our future improvements will further enhance the site’s value for modern logistics users.”
The deal with TWTH follows two other major leases in the region by Turnbridge, including an 83,000-square-foot industrial outdoor storage deal at 2647 Stillwell Ave. in Gravesend, Brooklyn, to the bus company Beacon Mobility. In the borough’s Bergen Beach section, the firm leased 52,100 square feet of warehouse space at 2350 East 69th St. to Sky Zone for a new indoor trampoline park.
Turnbridge taps NAI Hanson to lease 613,000 sq. ft. Bayonne industrial complex
