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Denholtz Acquires Waterfront Industrial Parcel in Newark
Denholtz Properties has acquired 148 Doremus Ave., a five-acre waterfront parcel in Newark, NJ. The transaction is the latest acquisition for Denholtz Properties’ joint venture which plans to acquire and develop industrial properties across the United States. Blau & Berg represented Denholtz. Deal terms weren’t disclosed.
Zoned for heavy industrial uses, 148 Doremus is currently used as an industrial outdoor storage facility and contains a 28,100-square-foot, two-story warehouse featuring a 2,000-square-foot two-bay shop and a 2,100-square-foot office. The property is half a mile from the New Jersey Turnpike’s Interchange 15E and provides access to Port Newark/Elizabeth and Newark Liberty International Airport.
“The Port of New York and New Jersey’s role as a vital piece of the global and national supply chain has only increased in the last several years,” said Mark Mahasky, director of acquisitions & capital transactions for Denholtz.
- ◦Sale/Acquisition
