Lincoln Equities Group Closes on 152.9-Acre Waterfront Site in Bayonne

Lincoln Equities Group (LEG) has closed on a 152.9-acre site in Bayonne. The new Bayonne Logistics Center, which sits on the former Military Ocean Terminal at Bayonne (MOTBY), will be redeveloped into 1.6 million square feet of industrial warehouse space. Parcels are now available for sale or lease.

The new facility will help bolster trade at the Port of New York and New Jersey and create more than 2,700 new jobs, generated by construction and future tenants. Cushman & Wakefield brokered the sale of the site from seller, Ports America Group, Inc., and serves as the listing broker.

“Bayonne Logistics Center represents one of the largest port industrial development opportunities in the New York metropolitan region,” says David Bernhaut of Cushman & Wakefield’s National Industrial Advisory Group, LEG’s exclusive advisor on the sale of the property. “This is a once-in-a-lifetime opportunity to purchase portside land with unparalleled maritime access in one of the world’s most land constrained port markets.”

With 59 acres of riparian water rights, the site offers immediate maritime access to the Hudson River and the Newark Bay (via the Kill Van Kull), as well as direct access to the New Jersey Turnpike, Interstate 78, Route 440, Routes 1 & 9, and Global Container Terminal.

“As the e-commerce industry and same day-delivery services expand, the demand for industrial warehousing near ports and major metropolitan areas will rise,” says Joel Bergstein, president, LEG. “We see tremendous potential in this underutilized waterfront site and look forward to transforming it into a port related 21st century warehouse and distribution center.”

Previously, the waterfront parcel was part of the MOTBY, which was originally a naval base and later repurposed as an U.S. Army base that closed in 1999. The site has remained dormant for more than a decade.

To access more business news, visit njbmagazine.com

Related Articles: