
Denholtz Properties Acquires Newark Industrial Parcel
9 November 2022
Denholtz Properties has acquired 148 Doremus Avenue, a five-acre industrial waterfront property in Newark, N.J., as part of its joint venture to expand industrial holdings nationwide. Blau & Berg represented Denholtz Properties in the transaction.
Zoned for heavy industrial use, the property includes a 28,100-square-foot, two-story warehouse with a 2,000-square-foot two-bay shop and a 2,100-square-foot office, currently functioning as an outdoor industrial storage facility. Located just a half mile from the New Jersey Turnpike’s Interchange 15E, the site provides prime access to major logistics hubs, including Port Newark/Elizabeth and Newark Liberty International Airport.
"The Port of New York and New Jersey is an essential component of the global and national supply chain, with demand for industrial facilities like outdoor storage and trailer parking continuing to rise," said Mark Mahasky, Director of Acquisitions & Capital Transactions for Denholtz Properties. "This acquisition allows us to tap into this high-demand market and further strengthens our industrial portfolio."
This acquisition aligns with Denholtz Properties’ joint venture launched earlier in 2022. It follows the purchase of the Coleman Portfolio, a 358,884-square-foot industrial portfolio in Savannah, Ga., and 9201 Forsyth Park Drive, a 53,811-square-foot industrial facility in Charlotte, N.C.
“The purpose of our joint venture is not solely to acquire industrial properties but to do so with a strategic focus on both mature and emerging markets across the nation,” said Stephen Cassidy, President of Denholtz Properties. “Our latest acquisition demonstrates our commitment to diversification, and we’re excited to expand our portfolio in our home state.”