Turnbridge Equities has signed a long-term industrial lease for 255,069 square feet at 169 Pulaski St. in Bayonne, NJ to TWTH Express for its newest warehouse and distribution facility. The leased space, which spans a portion of the larger warehouse of the three-building portfolio, was occupied by Waitex Global as part of a sale-leaseback agreement. Turnbridge acquired the property in April and is performing a $12-million renovation and repositioning.
“We’re excited to welcome TWTH to the property and continue our momentum in stabilizing this highly strategic asset,” said Turnbridge managing principal Ryan Nelson. “The Bayonne location offers unbeatable access to the Port of New York and New Jersey, as well as New Jersey and New York City, and we’re confident that our future improvements will further enhance the site’s value for modern logistics users.”
Turnbridge’s broker for the deal was Russell Verducci of NAI Global. Chris Okada of Okada & Company and Emanuel Westfried of Two Bins Capital represented TWTH.
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