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At a press conference in Secaucus, federal and state officials, as well as representatives from Amtrak, NJ Transit and the Gateway Development Corp. sponsor of the Hudson Gateway Tunnel program, stressed the need for the replacement of the 108-year-old moveable Portal Bridge, which has been estimated to cost $1.6 billion.
The new three-year lease transaction at the 340,000-square-foot property fills Boston-based Plymouth Industrial's largest vacancy in its portfolio and raises the property's leased rate to 76%.
Achieve 24 Fitness currently operates in 13,000 square feet of space at the building as a fitness center and Digirad Corporation operates another 5,000 square feet.
The Innovation Challenge calls for municipalities and counties to partner with higher-education institutions and other strategic partners to consider groundbreaking approaches to build public-private and community partnerships, nurture entrepreneurship and upgrade infrastructure.
Freehold will lease the properties to Curaleaf pursuant to a long-term, triple-net lease. The company also has the right of first offer to purchase additional properties from Curaleaf as its preferred real estate partner.
The new joint venture plans to begin construction in September on a three-story, 98,000-square-foot, climate-controlled self-storage facility at 352 Main Road.