It’s excessive time to pour one out for the Anheuser-Busch brewery in Newark.
The Anheuser-Busch InBev subsidiary offered its facility at 200 Route 1 within the New Jersey metropolis for $361 million, CoStar reported. Most of that buy worth is linked to the land beneath the property, as solely $43.6 million went in direction of shopping for the brewery’s buildings.
The client was Irvine, California-based Goodman North America Administration. The deal for the positioning was introduced by the vendor in December, however the worth wasn’t instantly clear.
The location spans 87 acres and three.2 million sq. ft. The deal breaks right down to $112.81 per sq. foot.
Goodman declined to remark to the outlet, whereas Anheuser-Busch didn’t return its request for remark.
The brewery was one in every of three closed by Anheuser-Busch on the finish of final yr. It’s one other retraction for Newark’s brewing scene, as soon as one of many largest within the nation. Goodman plans to show the positioning into a producing and logistics hub, the vendor beforehand revealed.
Some of the iconic options of the brewery will survive, albeit not in Newark: the 15-ton eagle signal was faraway from the highest of the property in January and shall be placed on show on the beer firm’s St. Louis headquarters.
Final month, DataBank Holdings and Goodman Group — the guardian firm of Goodman North America — formed a three way partnership to market LAX2, a brand new knowledge heart in Vernon, simply south of downtown Los Angeles. Development is in full swing for the 140,000‑sq.‑foot facility, which is scheduled to open in December.
Goodman additionally acquired the previous New York Every day Information printing plant in Jersey Metropolis for $92 million two years in the past, which it’s changing right into a distribution heart.
In February, the beer big tapped Cushman & Wakefield to market a 170-acre brewery in Fairfield, a part of the bigger San Francisco metro. The brewer can also be shuttering a plant in Merrimack, New Hampshire.
— Holden Walter-Warner
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