SOLD
Hines Acquires Industrial Property In Newark For $127.5M
397 447 ferry street
Industrial
714,936 SF
714,936 SF
Sold 1 year ago
Summary
Sale
NEW JERSEY
Industrial
714,936 sqft
Hines has acquired an industrial property located at 397-447 Ferry Street in Newark. The property spans 738,000 square feet and was sold by Turnbridge for a total price of $127,500,000, resulting in a price per square foot of $172.8.
Summary of transaction details
- Property Type: Industrial
- Sale Price: $127,500,000
- Square Feet: 738,000
- Price Per Square Foot: $172.8
- Address: 397-447 Ferry Street, Newark
The deal was brokered by JLL, with Jose Cruz, Marc Duval, Jordan Avanzato, Tyler Peck, Andrew Scandalios, and Nick Stefans representing both the buyer, Hines, and the seller, Turnbridge. Joseph Lembo from JLL served as the analyst in the transaction.
Players
All
7
Agents
6
Agencies
1
Details
SOLD
IMAGE: Jose Cruz, Joseph Lembo, Jordan Avanzato, Tyler Peck, Andrew Scandalios, Nick Stefans & Marc Duval
DATE: 12/22/2022
ADDRESS: 397-447 Ferry Street
MARKET: Newark
ASSET TYPE: Industrial
BUYER: Hines (@Hines)
SELLER: Turnbridge
BROKERS: Jose Cruz, Marc Duval , Jordan Avanzato (@Jordavz7), Tyler Peck (@Ty.Peck), Andrew Scandalios & Nick Stefans - JLL (@JLL)
ANALYST: Joseph Lembo - JLL
SALE PRICE: $127,500,000
SF: 738,000 ~ PPSF: $172.8.8View on map
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Address397 447 ferry street
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