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Turnbridge Acquires Industrial Near Global Container Terminal Bayonne

JLL Capital Markets arranged $80.27 million in acquisition financing for 169 Pulaski St., a 17.9-acre industrial property in Bayonne, NJ. The loan was arranged on behalf of Turnbridge Equities, which paid $91.5 million for the property.

169 Pulaski St. comprises three industrial buildings and 2.16 acres of industrial outdoor storage space. The property features 48 loading docks, ceiling heights up to 28 feet and ample parking for over 225 trailers. It is currently 90% leased to Waitex Global International, a global logistics company that has occupied the site for more than 21 years.

Waitex will execute short-term leasebacks on portions of the property while the new ownership implements a value-add business plan.

The property is situated less than a mile from the Global Container Terminal Bayonne. Its strategic location provides convenient access to New York City, New Jersey port facilities, Newark Liberty International Airport and major highways.

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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 16-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 7-10 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).

  • ◦Sale/Acquisition