Cushman & Wakefield tapped to manage Turnbridge Equities’ 22-acre brewery campus in Newark

March 19, 2019 02:09PM

Turnbridge Equities’ recently purchased Ballantine & Sons brewery site in Newark is set to be managed by Cushman & Wakefield’s Michael Nevins, Sam Collison, Mike Baldino, Eladio Bracero and Kevin Smith, in a deal announced last week. The 22-acre campus, was originally owned and operated by P. Ballantine & Sons Brewery until it closed in 1972. Turnbridge, which has been on an acquisition spree in recent months, bought the property in February with plans to re-position it into a 1.1 million-square-foot mixed-use project with the potential for additional development. Nevins said the site will see significant investment by Turnbridge and its joint-venture partner JPMorgan Asset Management. The Real Deal reported last month that Turnbridge paid $61 million for the campus, which is located within a designated Opportunity Zone in Newark. The site at 424 East Ferry Street in Newark, whose sale was brokered by JLL, currently contains five light-industrial facilities. [Real Estate NJ]