±400,000 SQUARE FEET INDUSTRIAL OPPORTUNITY 720 South Front Street Elizabeth, NJ 07202

Transcription

1 ±400,000 SQUARE FEET INDUSTRIAL OPPORTUNITY 720 South Front Street Elizabeth, NJ

2 ±400,000 SQUARE FEET INDUSTRIAL OPPORTUNITY 720 South Front Street Elizabeth, NJ As exclusive agent, The Blau & Berg Company is pleased to offer for sale a 100% fee interest in the former Cory Warehouse which consists of three (3) facilities. A ±318,651 SF facility with 70 Docks, a 13,051 SF maintenance garage with 8 Drive-in bays (14 x 14 ) and ±81,834 SF three (3) story facility totaling ±400,000 SF on 13 AC located in Elizabeth and Linden, NJ. The 318,651 SF on 11 AC and the 81,834 SF on 2.04 AC parcels can be purchased as a package or separately. This is an opportunity to purchase a prime industrial location with redevelopment potential with close proximity to the ports and airport. INVESTMENT HIGHLIGHTS Next to Port and Newark Airport: New Jersey s Port Region is a prime area for development of industrial, warehouse and distribution facilities catering to the area s transportation hubs. The combination of the Port of Newark/Elizabeth and Newark Liberty International Airport provide a substantial amount of regional economic activity to the area. Shallow bay facility with loading on three (3) sides excellent for user, intermodal, 3PL or E-commerce startup operator. High Demand for New Construction: Ability to take advantage of a submarket with mainly functionally obsolete inventory by introducingan institutional qualityproduct that will garner the market s highest rental rates. Location Suited for Distribution: Bordered by the City s primary roadways of Goethals Bridge and NJ Turnpike Interchange 13, which provide access within minutes to the US 1/9, I-78, Staten Island, Brooklyn and the ports of Newark and Elizabeth. 2

3 Port Overview 15E Port Newark Port Elizabeth 13A 13 S i t e SITE 3

4 Site Layout & Property Summary 2710 Allen Avenue, Linden NJ Aerial image for subject property at Elizabeth Parcel Total Lot Area: ±318,651 SF on 11 AC Building B: ±305,600 SF 1st Floor: ±195,187 SF 2nd Floor: ±110,413 SF Building C: ± SF Linden Parcel Total Lot Area: ±81,834 SF on 2.04 AC Building D: 3-Story Facility Floor Plate: ±27,278 SF 720 South Front Street, Elizabeth, New Jersey Property Features Total Lot Area: ±13.04 AC (Paved and Fenced) Ceiling Height: Clear (Varies in Areas) Power: 400-2,000 Amps Tailboard Loading: 70 Tailboard Loading Docks Grade-Level Doors: Yes Riparian Rights: Yes with Dock Area Zoning Linden: Heavy Industrial Zoning Elizabeth: M-1 Light Industrial / Urban Enterprise Zone 4

5 Site Layout - Elizabeth Total Lot Area: ±13.04 AC (Paved and Fenced) Square Footage: ±318,651 SF Bldg. B: ±305,600 SF Bldg. C: ±13,051 SF Tenants: Currently fully leased Comments: Tenants are under market with six (6) month termination rights Delivery Vacant or with current tenants Ceiling Height: Clear (Varies in Areas) Power: 400-2,000 Amps Tailboard Loading: 70 Tailboard Loading Docks Sale Price: Upon Request Grade-Level Doors: Yes (8) Riparian Rights: Yes with Dock Area 5 Zoning Elizabeth: M-1 Light Industrial / Urban Enterprise Zone

6 Site Layout - Linden 2710 Allen Avenue Linden, NJ Total Lot Area: ±2.04 AC Square Footage: 81,834 SF Floor Plate: ±27,278 SF Stories: Three-story free standing facility Ceiling Height: clear Column Spacing: 20 of center (mushroom columns) Tailboard Loading: Four (4) Docks Riparian Rights: Yes with Dock Area Zoning Linden: Heavy Industrial Sale Price: $2,100,000 PSF $: $25.66 PSF 6

7 Site Photos 7

8 Site Photos 8

9 Site Photos 9

10 Survey 10

11 Parcel Map Elizabeth Portion: Parcel map for Linden Portion: Parcel map for Portion Elizabeth Linden Block & Lot State Use Acre Size Lot Area Property Tax (2016) 4 / 1472 Industrial (4B) ±11 400,055 SF $337, / 4 Industrial (4B) ± ,764 SF $76,

12 Partial Floor Plan Floor plan for subject property at 12

13 Garage Floor Plan Floor plan for subject property at 13

14 Survey 14

15 Proposed Building 15

16 Road Map 16

17 Property Photos 17

18 Property Photos 18

19 Property Photos 19

20 Transportation Map 20

21 2016 Demographics Radius Population: 2021 Projection 2016 Estimate 2010 Census Growth Growth Population Hispanic Origin 2016 Population by Race: White Black Am. Indian & Alaskan Asian Hawaiian & Pacific Island Other Households: 2021 Projection 2016 Estimate 2010 Census Growth Growth Owner Occupied Renter Occupied 2016 Avg Household Income 2016 Med Household Income 2016 Households by Household Income: <$25,000 $25,000 - $50,000 $50,000 - $75,000 $75,000 - $100,000 $100,000 - $125,000 $125,000 - $150,000 $150,000 - $200,000 $200, Mile 3,520 3,468 3, % (4.86%) 2,562 2, ,094 1,080 1, % (5.76%) $60,055 $51, Miles 188, , , % 1.56% 93, ,853 51,994 2,325 7, ,400 63,008 61,527 60, % 1.59% 22,775 38,752 $61,989 $45,031 17,423 15,593 10,219 7,483 4,941 2,122 2,137 1,610 5 Miles 525, , , % 2.69% 181, , ,868 4,463 36, , , , , % 2.88% 89,782 88,150 $73,312 $56,013 42,254 39,124 29,588 23,715 16,841 8,627 10,766 7, Demographic information for subject property at 21

22 Demographics Daytime Employment Business Employment By Type # Businesses # Employees # Emp/Bus Radius 1 Mile 3 Mile 5 Mile 1 Mile 3 Mile 5 Mile 1 Mile 3 Mile 5 Mile Total Businesses 156 6,859 17,998 2,469 88, , Retail 26 1,221 2, ,923 33, Wholesale ,930 11, Hospitality & Food Service , ,620 17, Real Estate, Renting, Leasing ,016 5, Finance & Insurance , ,425 6, Information ,535 3, Scientific & Technology Services , ,402 16, Management of Companies Health Care & Social Assistance , ,445 26, Education Services ,653 15, Public Administration & Sales ,360 19, Arts, Entertainment, Recreation , Utilities , Admin Support & Waste Management ,333 6, Construction , ,810 8, Manufacturing ,389 21, Agriculture, Mining, Fishing Other Services , ,052 13, Demographic information for subject property at 22

23 INDUSTRIAL OPPORTUNITY For additional information or to arrange an inspection, please contact the following exclusive brokers: Jason M. Crimmins, CCIM, SIOR President x 122 jmcrimmins@blauberg.com Peter J. Murano, Jr., SIOR Senior Executive Director x 114 pjmurano@blauberg.com Alessandro (Alex) Conte, CCIM, SIOR Executive Vice President x 131 aconte@blauberg.com The Blau & Berg Company The information contained herein has been obtained from sources considered to be reliable, but no guarantee of its accuracy is made by this company. In addition, no representation is made respecting zoning, condition of title, dimensions, or any matters of a legal or environmental nature. Such matters should be referred to legal counsel for determination. Terms and conditions are subject to change without prior notice. Subject to errors and omissions. 23