CenterPoint acquires last-mile facility in Jersey City

CenterPoint Properties has acquired 101 Linden Avenue East in Jersey City, N.J.

The property consists of a 74,304-square-foot building on 5.38 acres and is located within proximity to both the Holland and Lincoln Tunnels into Manhattan.

“New York City represents the largest consumer population in the country and creates distinct logistical challenges. Located less than four miles from Manhattan, this property’s site security and excess parking are unique characteristics that are irreplaceable in the last-mile supply chain, and are certain to enhance in value over time,” said Evan Lippow, CenterPoint vice president of investments.

The property benefits from four dock-high doors and four grade-level doors, which facilitate access to a portion of the building that can be used as a drive-in warehouse. The site offers 50 automobile spaces and comes with an extra 1.5 acres of land that can accommodate parking spaces for 55 delivery vehicles and includes a 3,000-square-foot vehicle maintenance facility. Additionally, the property possesses approximately 30,000 square feet of temperature-controlled warehouse, which combined with the above-market vehicle parking, creates a unique facility for potential food-and-beverage distributors.

“This building is a valuable addition to CenterPoint’s growing portfolio in the New Jersey/New York market. 101 Linden Avenue East is a highly functional ‘throughput’ building, located at Exit 14B, with excellent access into Manhattan,” said David Nenner, CenterPoint senior vice president, regional manager.

101 Linden Avenue East was a vacant acquisition and is ready for immediate occupancy.