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Turnbridge Equities has purchased a 17.9-acre industrial property at 169 Pulaski St. in Bayonne, N.J., from Waitex International. The property changed hands for $91.5 million, according to Traded. In addition, the buyer financed the purchase with a $80.3 million loan in a deal arranged by JLL.

The asset comprises three industrial buildings totaling 613,000 square feet and some 2.2 acres of industrial outdoor storage space. The complex has 48 loading docks, ceiling heights up to 28 feet and parking for more than 225 trailers.

Waitex has owned the property for over 21 years and currently occupies 90 percent of its leasable space. The firm intends to sign short-term leasebacks while the new owner implements a value-add strategy.