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CenterPoint Adds “Sought-After” Jersey City Cold Storage
CenterPoint Properties has acquired a 49,500-square-foot cold storage facility at 200 Polar Way in Jersey City. The building, leased long-term to a major cold storage logistics company, features 24-to-33-foot clear heights, an ESFR sprinkler system and 16 dock-high doors.
“This is another example of CenterPoint adding to our large infill-oriented national portfolio, targeting specific properties that we like one building at a time,” said PJ Charlton, CenterPoint’s SVP of investments. “Polar Way is a unique, sought-after cold storage transload close to both a top port in Newark-Elizabeth and a huge population center in Manhattan and beyond.”
Jason Crimmins, Alex Conte, Peter Murano and Michael Schipper of The Blau & Berg Company brokered the transaction. Industry analysts forecast online grocery shopping could make up a quarter of all grocery sales in the next five years, driving demand for cold storage facilities to new heights nationally and regionally.
- ◦Sale/Acquisition
