Hines Acquires Industrial Property In Newark For $127.5M

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.