255,069 s/f lease signed by Turnbridge Equities at newly acquired warehouse

Bayonne, NJ The real estate investment and development firm Turnbridge Equities has signed a long-term industrial lease for 255,069 s/f at 169 Pulaski Street to TWTH Express for its newest warehouse and distribution facility, announces Ryan Nelson, managing principal of Turnbridge Equities, the owner of the property.

Turnbridge acquired the property in April, 2025 and is currently executing on a $12 million renovation and repositioning of the property.

The leased space, which spans a portion of the larger warehouse of the three-building portfolio, was occupied by Waitex Global as part of a sale leaseback agreement. The TWTH long-term lease is at market terms.

“We’re excited to welcome TWTH to the property and continue our momentum in stabilizing this highly strategic asset,” said Nelson. “The Bayonne location offers unbeatable access to the Port of New York and New Jersey, as well as New Jersey and New York City, and we’re confident that our future improvements will further enhance the site’s value for modern logistics users.”

This is the third major lease arranged in Turnbridge’s New York City properties in the last few weeks, notes Mr. Nelson. Turnbridge recently signed leases for:

• 83,000 s/f of its Industrial Outdoor Storage (IOS) land at 2647 Stillwell Avenue in Gravesend, Brooklyn, to the bus company Beacon Mobility
• 52,100 s/f at the single-story warehouse at 2350 East 69th Street in the Bergen Beach section of Brooklyn to Sky Zone, for a new Indoor Trampoline Park 

Turnbridge’s broker in the Bayonne transaction was Russell Verducci of NAI Global. TWTH’s brokers were Chris Okada of Okada & Company and Emanuel Westfried of Two Bins Capital.