Real estate services firms JLL and NAI James E. Hanson have announced the $68.5 million sale and $52.2 million in acquisition financing for a 14.97-acre industrial outdoor storage (IOS) portfolio spanning two prime locations in Newark and Kearny, New Jersey.
NAI James E. Hanson’s Institutional Services Group represented the joint-venture sellers, Meadow Partners and Astoria, N.Y.-based Criterion Group, in the transaction. JLL Capital Markets and Brokerage teams facilitated transaction advisory and worked on behalf of the buyer, Outpost, to secure a $52.2 million bridge loan through Forbright Bank.
The infill portfolio features irreplaceable logistics infrastructure located directly along Northern New Jersey’s Port Newark-Elizabeth Marine Terminal corridor and the Interstate 95 industrial submarket.
Outpost, a specialized real estate investment firm building a nationwide network of truck terminals and logistics yards, acquired the two properties to serve regional freight, container, and trucking operators:
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2120 McCarter Highway (Newark): Encompassing approximately 7 acres (6.93 acres), the paved, lit, and fenced site offers parking capacity for 198 containers and 25 tractors. Executed concurrently with Outpost’s acquisition, a new lease with a Fortune 100 corporate tenant fully stabilizes the asset with long-term income from day one.
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76 Central Avenue (Kearny): Spanning approximately 8 acres (8.04 acres), the low-coverage yard accommodates 212 containers, 70 tractors, and 66 trailers, alongside roughly 4,000 square feet of office space and a maintenance bay. The property provides an immediate value-add and lease-up opportunity for Outpost.
The strategic locations offer immediate access to major shipping channels and highways, including I-95, I-78, I-280, Route 3, and Route 21, as well as Newark Liberty International Airport. Outpost plans to execute further site-wide enhancements, including repaving, upgraded lighting, perimeter fencing, and modernized security access systems.
Infill industrial outdoor storage properties—used for truck parking, container staging, equipment rental, and material storage—have become one of commercial real estate’s most sought-after asset classes due to severe land constraints across the New York metropolitan market.
“This portfolio had a deep buyer pool, which speaks to how strong demand for premier IOS sites in New Jersey has become,” Jordan Avanzato, Senior Managing Director at NAI James E. Hanson said. “A few years ago, sites like these would have drawn a handful of local bidders. Today, well-capitalized national platforms are competing for scale in North Jersey, and that competition shows up in pricing.”
“Infill, industrial outdoor storage assets continue to attract institutional capital demand given the supply and demand imbalances. This portfolio represents the quality and location of assets that outperform their competitive set,” Jason Lundy, Managing Director at JLL Capital Markets said.
Dean Brody, Vice Chairman at JLL Brokerage, noted: “The Kearny and Newark Portfolio is a strategic acquisition for Outpost and underscores their ability to aggregate infrastructure-driven, outdoor storage assets that are essential to the supply chain.”
The acquisition marks another major capital deployment for Outpost as it expands its nationwide footprint of low-coverage yards, transload facilities, and cross-docks.
“Outpost is building the infrastructure that powers the first and final mile of freight,” Greg Pearson, Chief Investment Officer at Outpost, said. “The Kearny and Newark properties are irreplaceable logistics assets in one of the nation’s most supply-constrained infill markets. Pairing a stabilized, fully leased asset with an immediate value-add opportunity demonstrates both sides of our investment platform.”
“Outpost is committed to Port Newark-Elizabeth and the broader Northern New Jersey market for the long term,” Chenying Zhao, Managing Director at Outpost, added. “Sites like Kearny and Newark are increasingly scarce, while demand for large, functional, properly zoned logistics facilities continues to grow.”
Advisory Teams
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Seller Representation: NAI James E. Hanson Senior Managing Directors Jordan Avanzato and Christopher Todd, along with Managing Director William Ericksen of the firm’s Institutional Services Group, Capital Markets & Leasing Team.
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Transaction & Investment Sales Advisory: JLL Managing Directors Jason Lundy and Nick Stefans, Vice Chairman Dean Brody, and Senior Analyst Luke Ceccoli.
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Debt & Financing Advisory: JLL Senior Managing Director Michael Klein, Senior Director Max Custer, and Senior Analyst Michael Donohoe on behalf of Outpost.
