As an exclusive agent, Cushman & Wakefield’s National Industrial Advisory Group is pleased to offer a 100% fee interest in Kill Van Kull Terminal for sale. Located at the heart of the NY/NJ Port mega-complex, Kill Van Kull Terminal consists of 31.58 acres (26.51 uplands, 5.07 riparian) fronting the NYC Harbor with deep water access. The site will be delivered with existing improvements and is zoned Industrial Heavy (I-H) permitting bulk storage, warehouse and distribution, container storage, manufacturing, and other commercial uses, as of right.
Port NY/NJ new construction rents continue to exhibit positive year-over-year growth with current rents approaching $30/SF. The overall vacancy rates remain near record lows of 4.7% within the Port region for warehousing and distribution (as of H1 2023). In conjunction with the average age of Port inventory being greater than 50 years old and only 17% of standing inventory being Class-A, Kill Van Kull Terminal offers multiple paths to creating value including the opportunity to deliver +/- 425,000 SF of modern logistics or warehousing space.
With 820’ fronting New York Harbor, The site offers maritime access to the Kill Van Kull connecting the Hudson River/New York Harbor and Newark Bay, as well as direct access to Route 440 which links to the NJ Turnpike/Interstate 95, Interstate 78, Interstate 287, Routes 1 & 9, and Global Container Terminal. Situated within one of North America’s largest ports by container volume, and at the heart of the 22 million residents in the NY MSA, Kill Van Kull Terminal offers rarely matched maritime, air, rail, and roadway access across the metropolitan region and the population that surrounds it.
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BULL’S EYE ON A MAP
• Geographic center of NY/NJ MSA and the confluence of air, sea, roadway, and rail infrastructure
• Less than 4 turn access to NJ Turnpike / I-95 Exit 14A; nearly 60 million consumers within a 5-hour drive time
• Immediate access to highways and river crossings – I-95 / I-78 / I-278 / Route 440 / Route 1 & 9 / Holland Tunnel / Bayonne & Verrazono Bridges
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MULTIPLE PATHS TO CREATING VALUE
• Flexible I-H Zone accommodates warehouse and distribution use as well as bulk outdoor storage and heavy industrial
• Bulk outdoor storage permits use for container stacking, tank farms, and trucking services
• Rare heavy industrial zoning in combination with deep water access accommodates a broad spectrum of port occupiers in search of scale
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SCARCITY OF SUPPLY + BARRIERS TO ENTRY
• A 31.58-acre site amongst a market defined by extreme land constraints and high barriers to entry
• Average age of the Port Inventory is +50 years with only 17% of standing inventory offering Class-A functionality
• 820 linear feet along NY Harbor offering maritime access to the Kill Van Kull, Hudson River / NY Harbor & Newark Bay
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COMPELLING MARKET FUNDAMENTALS
PORT SUBMARKET
• Port of NY/NJ is one of the largest port by container volume in the United States with 3.7MM TEUs through Q2 2023
• Port new construction rents at ~$30/SF, an 16.7% increase in the first half of the year (H1 2023) / 198% growth since 2017
•Continued demand for Port-centric IOS, rents exceed $35,000+/acre/month today
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ADDRESS
2 Hook Road
Bayonne, NJ
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ZONING
I-H:
Industrial Heavy
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ACRES
31.58 acres
(26.51 Upland / 5.07 Riparian)
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±425,000 SF
Potential Gross Leasable Area
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H. GARY GABRIEL
Executive Vice Chairman
+1 201 460 3352
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KYLE B. SCHMIDT
Executive Managing Director
+1 201 508 5266
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RYAN J. LARKIN
Managing Director
+1 201 460 3346
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SETH ZUIDEMA
Associate Director
+1 201 508 5321
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J.P. HOHL
Financial Analyst
+1 201 426 2225
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JOHN ALASCIO
Vice Chairman
+1 212 841 9238
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CHUCK KOHAUT
Senior Director
+ 1 201 528 2154
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TJ SULLIVAN
Senior Director
+1 212 841 7977
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INDUSTRIAL LEASING EXPERTISE |
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BILL WAXMAN
Vice Chairman
+1 201 394 9989
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JEFF VOLPI
Director
+ 1 201 736 8381
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Cushman & Wakefield, LLC | Capital Markets
One Meadowlands Plaza, 7th Floor, East Rutherford, NJ
+1 201 935 4000
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