Spec construction is set to begin for a 332,640-square-foot portside distribution facility with 5 acres of parking capacity at Lincoln Logistics Bayonne, marking another milestone for the former Military Ocean Terminal site, according to a Wednesday announcement from developer Lincoln Equities Group, which expects to deliver the building by year-end.
Cushman & Wakefield serves as exclusive leasing agent for the building.
Representing the largest infill industrial redevelopment in the New York metro area, Lincoln Logistics Bayonne sits on a 153-acre waterfront peninsula in the heart of the Port of New York and New Jersey. Already, the property has attracted shipping giant UPS, for which an 886,256-square-foot, build-to-suit distribution hub is under development.
“We designed Lincoln Logistics Bayonne to set the highest standard for modern portside logistics worldwide,” said Lincoln Equities Group’s Joel Bergstein, 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.”
Lincoln Logistics Bayonne is the closest-in development site to Global Container Marine Terminal, which is located just 800 feet away with direct access via a private roadway. Just 5 miles from Manhattan and 9 miles from Newark Liberty International Airport, the site provides robust roadway ingress/egress via the New Jersey Turnpike (new Exit 14A interchange), Interstate 78 and Route 440.
“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%. 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.”
Nissim added that the opportunity provides both speed-to-market and — for a limited time — the chance for a future tenant to influence elements of the final product.