241 Oraton Street
Update
01/28/22
Newark Container Warehouse Sells for $32M
A Newark industrial property, located at 241 Oraton Street has just been sold for $32 million. It was purchased by Thor Equities from the previous owner, Jewels Transportation in a deal brokered by JLL. Used for warehousing and distribution, the building was constructed in 1995 and totals 131,205 square feet. It also contains 5,700 square feet of office space.
Jewels Transportation will continue to occupy the property until at least 2031 under a triple-net lease. The company runs a successful container handling operation out of the facility and serves more than 300 customers. As such, the building is well equipped for industrial shipping functions with 9-loading docks, 4-drive-in doors, a 67,500 square foot truck court, and ceilings with clearances of up to 28 feet. 241 Oraton is also conveniently located just 5-miles from the New Jersey Turnpike, and 8-miles from the Port Newark–Elizabeth Marine Terminal.
