Lowenstein Sandler represented Goodman Group, a global industrial property and digital infrastructure specialist, in the strategic acquisition of the former Daily News printing facility in the Liberty Harbor section of Jersey City.

The seller was the DN Property Company LLC, a partnership between the New DN Company and Twenty Lake Holdings.

With sweeping views of the Statue of Liberty, the 21.7-acre property is located at 125 Theodore Conrad Drive in Jersey City, New Jersey, within the iconic Jersey City Gold Coast and Liberty State Park. It served as the location of the New York Daily News printing plant for nearly thirty years.

In line with the growing demand for logistics and distribution centers to support the growing digital economy, Goodman will redevelop the site into high productivity warehouses which customers will be able to have built to suit for their requirements. Located directly across the Hudson River from Manhattan, the land presents an opportunity to build a warehouse in one of the most sought-after locations in the country. The site offers unparalleled highway access and mobility throughout the Northeast region. It also offers a unique opportunity to fulfill the needs of e-commerce or logistics companies looking to leverage the strategic location, including significant trailer parking availability.

This project will be a key part of Goodman’s North American expansion and will be critical to increasing access to its customers across the tri-state area.

Goodman Group is a global industrial property and digital infrastructure specialist group with operations in key consumer markets across Australia, New Zealand, Asia, Europe, the United Kingdom, and the Americas. Goodman Group, comprised of the stapled entities Goodman Limited, Goodman Industrial Trust and Goodman Logistics (HK) Limited, is the largest property group on the Australian Securities Exchange (ASX: GMG), a top 20 entity by market capitalization, and one of the largest listed specialist investment managers of industrial property globally.

The deal team included John S. Stolz, Thomas Mesevage, Stephen Tanico, and Brian S. Winfield.