IMTT Will Consolidate Bayonne Operations, Freeing 130 Acres for Redevelopment
IMTT plans to consolidate its existing bulk liquid storage operations in Bayonne, NJ, which will free approximately 130 waterfront acres for redevelopment on its 450-acre property. Even after the anticipated reduction in storage capacity, IMTT’s Bayonne terminal will continue to be the largest bulk liquids storage terminal in the New York Harbor area.
The New Orleans-based company is actively considering all potential development opportunities for the approximately 130 acres on the east side of its Bayonne property. Given IMTT Bayonne’s location within a 15-mile radius of nearly 8.3 million people, the property is well suited for a wide variety of industrial and commercial uses.
IMTT is focused on leveraging its property’s unique attributes, including access to the IMTT-owned East Jersey Railroad, multiple deepwater docks, and two interstate natural gas pipelines, to attract innovative and economic development to Bayonne, which is expected to generate job opportunities and incremental tax revenue.