“With plans to grow our presence in the New Jersey market by over one million square feet each year, acquisitions like this are essential to meeting and surpassing these aggressive goals.” - Brian Townsend, CenterPoint
Oak Brook, IL (PRWEB) October 14, 2014
CenterPoint Properties proudly announces the acquisition of a 317,500 square foot facility on 19.57 acres located at 11 Cragwood Road, Avenel, NJ. Gary Gabriel of Cushman & Wakefield represented CenterPoint in the transaction.
The highly functional logistics facility is strategically located 10 miles from the Port of New York and New Jersey, allowing for three to four trips to PONY/NJ per day. The facility features 23 exterior docks, 6 drive-in-doors, 50 trailer positions, easy access to main highways, and is within close proximity to railway transportation. Gentek Building Products, Inc., a leading manufacturer of installed exterior building products, fully occupies the facility.
“This acquisition was an opportunity for CenterPoint to double down on its investment in port-related and logistically advantaged properties,” said Brian Townsend, senior vice president, investments, of CenterPoint Properties. “With plans to grow our presence in the New Jersey market by over one million square feet each year, acquisitions like this are essential to meeting and surpassing these aggressive goals.”
About CenterPoint Properties
CenterPoint Properties is focused on the development, acquisition and management of industrial property and transportation infrastructure that enhances business and government supply chain efficiency. The company invests in major coastal and inland port logistics markets anchoring North America’s principal freight lanes. CenterPoint‘s portfolio includes 45.5 million square feet and 6,000 acres under development in the company’s integrated intermodal industrial parks. For more information on CenterPoint Properties, visit http://www.centerpoint.com or follow @centerpointprop on Twitter.