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October 20, 2017 4:45 PM, EDT
CenterPoint Properties Purchases 14-Acre Distribution Center in New Jersey

CenterPoint Properties announced it purchased a 14-acre distribution center in northern New Jersey that is fully leased to a large delivery company serving North America.

Terms of the deal weren’t disclosed.

The 163,253-square-foot center in Wayne, N.J., includes 90 trailer parking spots, 44 dock high doors and 28-foot clear heights. Built in 2016, it is near New York City and its ports, Newark Airport and Port Newark.

Oak Brook, Ill.-based CenterPoint develops, owns and manages industrial properties and transportation infrastructure.

The center is the second large purchase in northern New Jersey that CenterPoint has made this year, and the firm is looking for more acquisitions, a statement from the company said.

In the last three years, CenterPoint has invested over $1.8 billion in acquisitions and development across the United States, and will continue to aggressively seek out additional acquisition opportunities — particularly in the port markets of northern New Jersey, Los Angeles, the San Francisco Bay Area, south Florida and Seattle, according to the company. — Transport Topics