The Chicago-based property firm has acquired a 317,500-square-foot warehouse in Avenel.
CenterPoint Properties of Chicago has acquired a 317,500-square-foot warehouse on 19.57 acres in Avenel, N.J.
The facility is located 10 miles from the Port of New York and New Jersey and includes 23 exterior docks, six drive-in-doors and 50 trailer positions. Gentek Building Products occupies the facility.
“This acquisition was an opportunity for CenterPoint to double down on its investment in port-related and logistically advantaged properties,” said Brian Townsend, senior vice president of investments at CenterPoint, in a statement. “With plans to grow our presence in the New Jersey market by over 1 million square feet each year, acquisitions like this are essential to meeting and surpassing these aggressive goals.”
CenterPoint buys N.J. warehouse
