These improvements include a roof replacement, window replacement, select demolition of abandoned structures, yard and loading area repaving, and extensive aesthetic upgrades, along with Class-A, professional management. The property now features more than 1 million square feet of industrial and loft space with 397-447 Ferry Street making up the bulk of the square footage at 726,525 square feet.

"The high level of leasing activity we have seen at the Ballantine Industrial Center in only a few months underscores the tremendous desirability of the Newark industrial submarket and the dearth of Class-A industrial space available in the area," Verducci says. "Between the leases we have already negotiated and the high number of inquiries we have received, we are excited to quickly bring this exciting building to full occupancy and ensure it can be a valuable piece of Newark's ongoing economic resurgence moving forward."