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NAI Hanson Brings Tenant to Newark’s Ballantine Industrial Center

NAI James E. Hanson negotiated an industrial lease for 6,000 square feet with Nextstop, LLC in the Ballantine Industrial Center at 397-447 Ferry St. in Newark’s Ports submarket. The team of Russell Verducci and Eric Demmers represented the landlord, Turnbridge Equities.

Turnbridge and institutional investors advised by JPMorgan Asset Management acquired the one-million-square-foot-plus complex in 2019. They spent more than $10 million on renovations at the property, a longtime Ballantine brewery that was converted to industrial use in 1972.

“In what is already one of the nation’s most competitive regional industrial real estate markets, the Ports submarket continues to be defined by low supply and record-high demand,” said Verducci. “Through their visionary capital improvement plan at the Ballantine Industrial Center, Turnbridge Equities is capitalizing on this strong market to create a new economic engine for the City of Newark geared towards the evolving needs of 21st century companies.”

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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