Turnbridge Equities and Long Wharf Capital have sold a former beer brewery in North Jersey, which was transformed into a distribution center, to Hines for $127.5 million, which represents a double-digit premium for the partners’ 19-month investment to transform the property into a fully leased, last-mile distribution complex named the Newark Distribution Center.
Turnbridge, Long Wharf Sell Former New Jersey Brewery to Hines for $127.5 Million
Ballantine Site in Newark's Ironbound Section Was Transformed Into Modern Industrial Property
By Linda Moss
CoStar News
January 3, 2023 | 10:48 P.M.
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IN THIS ARTICLE
- Properties
- Newark Distribution Center
400 Ferry St, Newark, NJ
- Newark Distribution Center
100 Christie St, Newark, NJ
- Storage Blue
425 Ferry St, Newark, NJ
- Newark Distribution Center
397 Ferry St, Newark, NJ
- Companies
- Turnbridge Equities
Real Estate
- JPMorgan Chase & Co.
Finance and Insurance
- Long Wharf Capital LLC
Finance and Insurance