JLL Capital Markets arranged $80.27 million in acquisition financing for 169 Pulaski St., a 17.9-acre industrial property in Bayonne, NJ. The loan was arranged on behalf of Turnbridge Equities, which paid $91.5 million for the property.
169 Pulaski St. comprises three industrial buildings and 2.16 acres of industrial outdoor storage space. The property features 48 loading docks, ceiling heights up to 28 feet and ample parking for over 225 trailers. It is currently 90% leased to Waitex Global International, a global logistics company that has occupied the site for more than 21 years.
Waitex will execute short-term leasebacks on portions of the property while the new ownership implements a value-add business plan.
The property is situated less than a mile from the Global Container Terminal Bayonne. Its strategic location provides convenient access to New York City, New Jersey port facilities, Newark Liberty International Airport and major highways.
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