Listen to this article

On the heels of its acquisition of Bayonne Distribution Center, Turnbridge Equities secured a substantial industrial lease at the property’s largest building.

TWTH Express signed a long-term deal for 255,069 square feet at 169 Pulaski St., NJBIZ has learned. Revealed by Managing Principal Ryan Nelson, the tenant is the first to join the roster at Turnbridge’s newest warehouse and distribution facility.

The freight forwarder’s commitment highlights continued demand from third-party logistics operators in the local industrial sector as vacancy rates continue a steady rise from historic lows in recent years.

Turnbridge acquired the property in April 2025; it is undergoing a $12 million renovation and repositioning.

Bayonne Distribution Center features three buildings, industrial outdoor storage space and a cumulative 613,129 square feet. Last month, NAI James E. Hanson announced it would market the property.

TWTH Express will lease space in the largest warehouse at Bayonne Distribution Center. Waitex Global previously occupied the footprint as part of a sale leaseback agreement, Turnbridge said. An additional 178,135 square feet of space remains available in the building.

“We’re excited to welcome TWTH to the property and continue our momentum in stabilizing this highly strategic asset,” Nelson said. “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.”

NAI Hanson/Global Vice President Russell Verducci represented Turnbridge in the TWTH deal. Meanwhile, Okada & Co. founder and President Chris Okada and Two Bins Capital’s Emanuel Westfried served as brokers for the tenant.

TWTH Express specializes in air and sea freight from China to the U.S.

Nelson noted the latest marks the third major lease Turnbridge has secured in the region over the last few weeks. Additional agreements include:

• 83,000 square feet of IOS at 2647 Stillwell Ave. in Gravesend, Brooklyn, to Beacon Mobility
• 52,100 square feet at 2350 E. 69th St. in Brooklyn’s Bergen Beach section, where Sky zone will bring a new indoor trampoline park to the single-story warehouse

Andrew Joblon founded Turnbridge Equities in 2015. The vertically integrated, SEC registered real estate investment and development firm has more than $4 billion of assets under management across two managed funds. Based in New York City, the firm has additional offices in Los Angeles, Austin, Miami and Washington, D.C.