JLL has been retained by Delta Equity Management, LLC (DEM) and SWL Urban Renewal, LLC (SWL-UR) as exclusive leasing agent for Harborview Logistics Center, a newly-developed 195,723 square foot, state-of-the-art industrial development in Bayonne, N.J.
Construction is already underway, and the development is scheduled for delivery in September, 2022. Located at 71 New Hook Access Rd. near the former Marine Ocean Terminal at Bayonne (MOTBY), the speculative new property will feature 46 dock doors and two drive-ins. It will have 40 ft. clear ceiling heights, a 135 ft. truck court and parking for 32 trailers and 149 cars. Harborview Logistics Center has a 20-year PILOT (Payment In Lieu Of Taxes) agreement which will reduce real estate taxes on the building for the long term.
Situated on a peninsula located between Newark Bay to the west and New York Bay to the east, the site is just 10-miles from Manhattan in Hudson County’s Gateway Region (Port District), at the heart of the New York metropolitan area and the largest population mass in the US. It offers unparalleled transportation options with access to the 1-95 and proximity to the Port of Newark and Newark Liberty International Airport.
The exclusive JLL leasing team for Harborview Logistics Center will be led by vice chairman Joel Lubin, executive managing director Brian Golden, and managing director Gary Politi.
According to JLL’s most recent Industrial Insight report, for the first time in history, New Jersey’s industrial vacancy dropped below the four percent threshold, with 2021 reporting a rate of 3.8 percent.
“We are excited to bring this exceptional new development to market in one of the most sought-after industrial submarkets in the country,” said Lubin. “As demand from the ecommerce and logistics sectors continues unabated, we anticipate keen interest from operators under immense pressure to move goods competitively and quickly.”
Added Golden, “The location of Harborview Logistics Center is ideal for companies seeking a last-mile facility situated in a densely populated urban market with access to multiple transportation options, an accessible employee base and close to customers along the entire East Coast corridor.”
Vincent DiDomenico, founder and managing member of DEM, said, “This job-creating project will contribute to the economic recovery underway in Bayonne while providing vital logistics space in one of the world’s most land-constrained markets. The uniquely strategic location of the project affords not only “last mile” delivery into the NYC/North Jersey MSA but “first mile” intermodal transport as well from the NJ/NY Ports of entry.”
JLL formed its Northeast Industrial Region in early 2017, combining its industrial brokerage operations in Connecticut, New Jersey, New York and Pennsylvania into a single region. The firm merged its industrial business lines to better serve clients that increasingly view the industrial sector in all four states as one large interconnected market. The Northeast Industrial Market comprises approximately 1.76 billion square feet of industrial space and represents the largest industrial market in the United States.