Newark Distribution Center, Newark, NJ
Acquisition and mark-to-market industrial opportunity in the Newark submarket with multimodal access to transportation.
Hines U.S. Property Recovery Fund (HUSPRF)
Upside at a Discount
AT A GLANCE
Newark, NJ
Located in the high-barrier-to-entry submarket of Newark with close multimodal transportation infrastructure
715K SF
Description
HUSPRF acquired this Newark industrial asset at a significantly discounted price in December 2022. The Fund seeks to add value to the acquisition by exploring alternative uses for its multi-level and basement space, and by leveraging outdoor storage along its property line. The 715K SF asset offers strong occupancy fundamentals and mark-to-market potential for 50% of its space in the near term. Located in the Newark submarket with immediate access to critical transportation infrastructure such as Port Elizabeth, Newark Liberty Airport, and the Lincoln Tunnel to New York City, Newark has high barriers to entry and few purchase opportunities with limited land availability for new development.
Gallery
Disclosures
Newark Distribution Center is part of the HUSPRF portfolio. The case study presented herein is for illustrative purposes only. It should not be assumed that investments made in the future will be comparable in quality or performance to the investment described herein. The case studies selected are the latest acquisitions in each sector.
HUSPRF (or Fund I) is closed to new investors.