Opportunity to own a low-covered industrial site in a portproximate core location, with immediate highway accessibility and access to local labor and favorable industrial zoning.
Clear path to market upside with undervalue in-place lease.
Desirable Linden location provides convenient access to all major transportation arteries, with immediate access to Brooklyn and NY markets over the Goethals Bridge.
Current lease expires September 2023 and is 40% below-market, signed in 2018.
Immediate cash-flow with ability to hit market upside in less than two years, with current projections on lease rates exceeding $20,000 NNN per acre per month.
Demand for low covered industrial sites with heavy parking is rapidly increasing, as users in the market continue adding to their transportation fleets and outdoor storage needs. Investment capital has recognized this growing trend and has allocated into this niche asset class more and more aggressively in Q2/Q3.
Features
Staten Island, Brooklyn, Manhattan, Port Newark, Newark Liberty Airport,
Linden is near New York Metro markets:
With Linden NJ Transit Northeast Corridor Line with direct service to NY Penn Station & NJ Transit Bus Stops near the site.
Access to New Jersey Turnpike, Route 1-9, Goethals Bridge, I-78, Lincoln and Holland Tunnels.
Reach 130 million people – 33 percent of the US population – in 24 hours.
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