BAYONNE, NJ—Penwood Real Estate InvestmentManagement has acquired a 35-acre site in Bayonne, NJ,which includes a 167,000 square foot industrial building and spacefor additional development of approximately 175,000 squarefeet.

“This investment offers a compelling combination of functionalexisting improvements as well as excess land well suited forconstruction of additional industrial space,” says HowardFreeman, managing director responsible for East Coastacquisitions at Penwood. The site wasformerly owned and operated by Unilever/BestFoods.

Penwood plans a significant rehabilitation ofthe rail-served site to include razing many of theantiquated/ancillary structures on the site and upgrading the HVAC,sprinkler, electrical and lighting systems within the existing167,000 square foot building.

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Steve Lubetkin

Steve Lubetkin is the New Jersey and Philadelphia editor for He is currently filling in covering Chicago and Midwest markets until a new permanent editor is named. He previously filled in covering Atlanta. Steve’s journalism background includes print and broadcast reporting for NJ news organizations. His audio and video work for has been honored by the Garden State Journalists Association, and he has also been recognized for video by the New Jersey Chapter of the Society of Professional Journalists. He has produced audio podcasts on CRE topics for the NAR Commercial Division and the CCIM Institute. Steve has also served (from August 2017 to March 2018) as national broadcast news correspondent for, a news website focused on practical advice for senior executives in small- and medium-sized companies. Steve also reports on-camera and covers conferences for, a public policy news coverage website focused on New Jersey government and industry; and for clients of, a division of The Lubetkin Media Companies LLC. Steve has been the computer columnist for the Jewish Community Voice of Southern New Jersey, since 1996. Steve is co-author, with Toronto-based podcasting pioneer Donna Papacosta, of the book, The Business of Podcasting: How to Take Your Podcasting Passion from the Personal to the Professional. You can email Steve at [email protected].