X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

What to do with a vacant 120,000-sf warehouse building at the Military Ocean Terminal on the waterfront in Bayonne, NJ? The city’s Local Redevelopment Authority is taking the creative step of temporarily turning the building over to creative types to use it for making TV programs. Among the deals cooking for LRA is to lease much of the space to Oz Productions, which makes the Oz prison series for HBO.

Long-term, the city plans to refit the building for permanent tenants. But, under a master lease agreement, until the US Army officially turns the building over to the city a year from now, short-term tenants are providing the city with some revenue to finance the redevelopment. In its deal with Oz, the latter will pay $47,530 a month for most of the 120,000 sf, according to LRA interim director Nick Chiaravalloti.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.