US investor Outpost, which specialises in industrial outdoor storage (IOS), has acquired two properties in northern New Jersey. The total volume for the two sites in Kearny and Newark amounts to 68.5 million dollars. Through the acquisition, the company adds nearly 15 acres of operationally essential outdoor space to its US-wide portfolio.
To execute the acquisition, Outpost secured 52.2 million dollars in financing from Forbright Bank. Both the loan and the sale of the properties were brokered by JLL Capital Markets. Details regarding the identity of the previous owners were not disclosed.
Capacities and functional specifications of the logistics sites
Both properties are located within close reach of major seaports and Newark Liberty International Airport, serving heavily frequented freight corridors in the metropolitan area. The property in Kearny at 76 Central Avenue comprises two smaller office buildings as well as parking space, while the site on McCarter Highway in Newark covers 6.9 acres.
- —76 Central Avenue (Kearny): parking capacities for 234 freight containers, 66 trailers, 28 tractor units and 54 passenger cars.
- —2120 McCarter Highway (Newark): site with parking spaces for 163 large trailers with a length of 55 feet.
- —Infrastructural connectivity: direct access to the region's seaports and Newark Liberty International Airport.
Greg Pearson, Chief Investment Officer at Outpost, explained that the company was systematically building infrastructure for the first and final mile of freight transport. He noted that the properties in Kearny and Newark are irreplaceable logistics assets in one of the most supply-constrained infill markets in the US. The combination of a fully let, income-stable property and an asset with immediate value-add potential reflects the platform's two-pronged investment strategy in national capital allocation.
One-billion-dollar investment programme
The acquisition is part of a one-billion-dollar investment vehicle through which Outpost targets investments in US cities near major container ports. These locations are characterised by high population densities, minimal land reserves and restrictive planning regulations for new developments.
Chenying Zhao, Managing Director at Outpost, emphasised in this context that sites such as those in Kearny and Newark are becoming increasingly scarce, whilst demand for functional, properly zoned logistics land continues to rise. For this reason, the company is investing decisively in low-coverage yard space, truck terminals, transfer hubs and cross-dock facilities across the regional market.
