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New York & Tri-State  + New Jersey  + Industrial  |  October 17, 2023
Emily Fu
By: Emily Fu

Texaco Downstream Properties Sells Bayonne Land Parcel 

Texaco Downstream Properties has sold a one-acre land parcel at 247-251 West First Street in Bayonne, New Jersey to ASAP, LLC. The transaction volume was not disclosed. 

The location is situated across the street from a one-million-square-foot film studio currently under development and expected to be completed by 2025. Bayonne is planning redevelopment efforts in the area to support the studio and enhance the waterfront. ASAP, LLC intends to continue using the site for its operations until the city reveals its redevelopment plans, which may involve a mixed-use residential building. The city has already designated these plots as an “area in need.” 

Allison Portera of CBRE arranged the sale on behalf of ASAP, LLC, while JLL represented the seller. 

Read More News Stories About: CBRE, JLL
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Inside The Story

Allison Portera

About Emily Fu

Emily Fu is Content Director of Connect Commercial Real Estate, where she covers the east coast markets, including New York, Boston & New England, and DC & Mid-Atlantic markets. She produces daily news stories as well as longer-form content, ranging from Q&As to thought-leadership pieces. She also writes feature stories for Connect Money. With previous stints at Reuters, Seeking Alpha, and Commercial Observer, Emily has covered the finance side of the commercial real estate industry, technology, media, telecom (TMT), and fashion. She attended the Columbia Graduate School of Journalism and currently resides in Manhattan.
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