Jewels Transportation, a third-party logistics company, has sold a 131,205-square-foot single-tenant industrial warehouse and distribution facility at 241 Oraton St. in Newark, N.J.
The financial terms were not disclosed; however, Thor Equities Group acquired the asset.
Jewels Transportation has called 241 Oraton St. home for more than 25 years and has shown its continued commitment to the property with a new, long-term lease. The two-building property features clear heights ranging from 25 to 28 feet, a new roof, nine loading docks, two drive-in doors, a deep truck court and 9,789 square feet of office space.
The property occupies five acres in a strategic logistics location in Newark. 241 Oraton St. is along Route 21, which provides connectivity to a host of area transportation thoroughfares, including Interstates 95, 280 and 78, and, by extension, the vital infrastructure the tenant requires. The Holland Tunnel and the Port of Newark are both eight miles away
