Newmark Group advised Anheuser-Busch in the $360-million sale of its former facility in Newark, NJ, to Goodman Group, a global leader in industrial real estate ownership and development. The beverage giant closed the 75-year-old facility in January.
Executive vice chairman Adam Doneger and executive managing director Adam Petrillo served as exclusive advisors to Anheuser-Busch. Executive managing director Avery Silverstein, co-head of U.S. Capital Markets Adam Spies and vice chairman Dustin Volz provided strategic support.
Comprising approximately 86 acres and more than 1.7 million square feet of existing structures, the property represents one of the largest industrial redevelopment opportunities in the New York metro area, according to Newmark. Current zoning supports a wide range of industrial, logistics, airport-related, data center, commercial and hospitality uses.
“Few sites offer this level of scale, connectivity and zoning flexibility,” said Doneger. “These characteristics, combined with its location within one of the nation’s most critical logistics corridors, position it to support the next generation of industrial and infrastructure users.”
Photo courtesy of the Center for Land Use Interpretation.
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