Anheuser-Busch Brews $360M Facility Sale in Newark

It’s high time to pour one out for the Anheuser-Busch brewery in Newark.

The Anheuser-Busch InBev subsidiary sold its facility at 200 Route 1 in the New Jersey city for $361 million, CoStar reported. Most of that purchase price is linked to the land beneath the property, as only $43.6 million went towards buying the brewery’s buildings.

The buyer was Irvine, California-based Goodman North America Management. The deal for the site was announced by the seller in December, but the price wasn’t immediately clear.

The site spans 87 acres and 3.2 million square feet. The deal breaks down to $112.81 per square foot.

Goodman declined to comment to the outlet, while Anheuser-Busch did not return its request for comment.

The brewery was one of three closed by Anheuser-Busch at the end of last year. It’s another retraction for Newark’s brewing scene, once one of the largest in the country. Goodman plans to turn the site into a manufacturing and logistics hub, the seller previously revealed.

One of the most iconic features of the brewery will survive, albeit not in Newark: the 15-ton eagle sign was removed from the top of the property in January and will be put on display at the beer company’s St. Louis headquarters.

Last month, DataBank Holdings and Goodman Group — the parent company of Goodman North America — formed a joint venture to market LAX2, a new data center in Vernon, just south of downtown Los Angeles. Construction is in full swing for the 140,000‑square‑foot facility, which is scheduled to open in December.

Goodman also acquired the former New York Daily News printing plant in Jersey City for $92 million two years ago, which it is converting into a distribution center.

In February, the beer giant tapped Cushman & Wakefield to market a 170-acre brewery in Fairfield, part of the larger San Francisco metro. The brewer is also shuttering a plant in Merrimack, New Hampshire.
— Holden Walter-Warner