CenterPoint Properties Acquires 315,389SF Industrial Property Fully Leased to FedEx Ground Package System

CBRE today announced the sale of FXG Jersey City, a 315,389 sq.ft. industrial complex located at 1049 Secaucus Road in Jersey City, New Jersey. CenterPoint Properties acquired the asset, which is fully leased to FedEx Ground Package Systems, Inc., from Scannell Properties.

Brian Fiumara, Michael Hines, Brad Ruppel and Lauren Dawicki of CBRE National Partners spearheaded the marketing campaign and negotiated the sale transaction on behalf of Scannell Properties.

“FXG Jersey City is an irreplaceable asset located in one of the most desirable industrial and commercial areas in Northern New Jersey,” said Fiurama, Vice Chairman, CBRE. “The industrial market in New Jersey remains very robust with extremely strong demand and an availability rate of just 3.63 percent, making this acquisition a great investment with the potential of continued increases in value.”

Built in 2016, FXG Jersey City is conveniently located on 44 acres near I-95 (1.7 miles), New York City, (6.7 miles) and Newark International Airport (10 miles). The industrial complex boasts parking for 774 cars, six drive-in docks and abundant trailer parking.

About CBRE Group, Inc.

CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2018 revenue). The company has more than 90,000 employees (excluding affiliates) and serves real estate investors and occupiers through more than 480 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.