Commercial real estate firm NAI James E. Hanson has been selected to lease the 613,129-square-foot Bayonne Distribution Center, located at 130 and 169 Pulaski St. and 73-79 Gould St. in Bayonne.
NAI James E. Hanson’s Russell Verducci, Eric Demmers, and Colin Goldstein will oversee the assignment on behalf of the owner, Turnbridge Equities.
Bayonne Distribution Center occupies 17.9 acres at the intersection of Interstate 78 and Route 440 and comprises three buildings ranging from 18,748 square feet to 433,204 square feet and a 2.3-acre industrial outdoor storage lot. It is less than a mile from Port Bayonne and Port Newark, and is near the New Jersey Turnpike, Garden State Parkway, and both the Holland and Lincoln tunnels.
The largest building, at 169 Pulaski St., is two stories and features 28 loading docks with ceiling heights from 14 feet to 26 feet. The adjacent two-story building at 73-75 and 77-79 Gould St. totals 67,177 square feet and includes two interior and two exterior loading docks, one drive-in, and 14-foot-to-28-foot ceilings. The 18,748-square-foot building at 74-76 Gould St. has three tailgates, 14-foot ceilings and a 1.8-acre attached industrial outdoor storage lot. 130 Pulaski St. is a 2.3-acre industrial outdoor storage lot with direct access to Route 440.
Turnbridge Equities acquired Bayonne Distribution Center in April from Waitex International for $91.5 million. The privately held real estate company based in New York plans to invest more than $12 million to bring the property up to modern industrial standards. The project is expected to be completed in 2026.
This leasing agreement continues NAI James E. Hanson’s relationship with Turnbridge Equities, which began in 2019 when Verducci and Demmers were tapped as the leasing team for Ballantine Industrial Center, a 726,525-square-foot adaptive reuse of the former famed brewery in Newark’s Ironbound district.
“Turnbridge Equities has spent the past decade building a strong track record as a leading owner of institutional-grade industrial assets nationwide,” said Verducci, who said he was looking forward to “bringing top-tier industrial tenants to this strategically located and highly adaptable property.”
