615 Ferry Street
Turnbridge Equities in June 2022 acquired 615 Ferry Street, an 8.8-acre industrial site located in the Port submarket of Newark, New Jersey. The Property is improved by a 189,000 SF manufacturing and distribution facility that is 100% leased. The investment was purchased via an off-market transaction which included attractive seller financing. The Property is ideally situated at the nexus of I-95, I-78, and I-280, and provides immediate access to both the Port of NY/NJ (2 miles) and Manhattan (10 miles). The acquisition provides Turnbridge with long-term control of one of the best large-scale industrial sites in the Port submarket and provides business plan optionality via either ground-up industrial warehouse development, industrial outdoor storage, or the value of the existing improvements.