100 Jefferson Road
Turnbridge acquired this 553,000 SF industrial warehouse in October 2018. The building features ceiling heights of up to 38’ tall with 25 loading docks. The property is strategically-located at the intersection of I-80 and I-287, about 20 miles from Manhattan, providing easy access to the Port of NY/NJ and the 16.5 million people living in suburban New York, New Jersey, and New York City. Turnbridge executed the complex acquisition as part of a sale-leaseback with PNY Technologies, which also included the purchase of 10-acres of solar panels on the property’s roof. Turnbridge completed a $4.5 million capital improvement program, including the construction of a new tenant entrance to the building, replacement of the mechanical systems, repaving the parking and loading areas, demolishing former laboratory spaces and completing “white box” improvements of the office space to prepare the property for tenancy. Turnbridge leased approximately 70% of the building prior to bringing the property to the market for sale.