Goodman Group Acquires Industrial Complex In Jersey City From DN Property Co. LLC For $92M

The industrial/manufacturing complex located at 125 Theodore Conrad Drive in Jersey City, NJ, was recently sold for $92 million. Spanning 464,400 square feet, the property sits on 21.7 acres of land and was acquired by Gregory Goodman of Goodman Group from DN Property Co. LLC. The sale price equates to $198 per square foot.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $92,000,000
• Buyer: Gregory Goodman - Goodman Group
• Seller: DN Property Co. LLC
• Address: 125 Theodore Conrad Drive
• Market: Jersey City
• Square Footage: 464,400
• Price per Square Foot: $198

Goodman Group, the buyer in this transaction, plans to redevelop the property into a modern warehouse facility. The site, previously utilized by the New York Daily News, boasts views of the Statue of Liberty near New York Harbor. This strategic acquisition positions Gregory Goodman as a key player in enhancing the industrial landscape in Jersey City through thoughtful redevelopment initiatives.