Turnbridge sourced the acquisition in October 2018 of this 553,000 SF industrial warehouse, which includes ceiling heights of up to 38’ tall with 25 loading docks, in joint venture with Harbor Group International. The property is strategically-located at the intersection of I-80 and I-287, about 20 miles from Manhattan, providing logistics companies easy access to the 16.5 million people living in suburban New York, New Jersey, and New York City, as well as the Port of NY/NJ. Turnbridge executed the complex acquisition as part of a sale-leaseback with owner/user, PNY Technologies, as well the purchase of 10-acres of solar panels on the property’s roof. Immediately upon closing, Turnbridge commenced its $4.5 million capital improvement program, including creating a new tenant entrance to the building, replacing 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.
For more information visit www.100JeffersonRoad.com
100 Jefferson Road, Parsippany, NJ
Morris County / Northern NJ
Last Mile Industrial