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CushWake to Manage Former Newark Brewery Turned Industrial Campus
Cushman & Wakefield has been named property manager for the 22-acre former P. Ballantine & Sons brewery on Ferry Street in Newark. The appointment occurs soon after the Ironbound industrial property’s acquisition by Turnbridge Equities and institutional investors advised by J.P. Morgan Asset Management.
The new ownership has launched a major renovation/repositioning effort, said Cushman & Wakefield’s Michael Nevins. “Turnbridge and J.P. Morgan took advantage of a great opportunity to purchase existing product in New Jersey’s red-hot Port industrial market,” he said.
The result of the repositioning, Nevins continued, will be “a well-located, highly functional option for regional industrial tenants.”
Nevins and colleagues Sam Collison, Mike Baldino, Eladio Bracero and Kevin Smith, are heading the assignment to provide day-to-day operational support for the 1.1-million-square-foot campus, which houses 30 industrial-related businesses. The site on Ferry Street served as P. Ballantine’s largest brewery until it closed in 1972.
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