Goodman North America Management acquires the 3.2 million-square-foot former Anheuser-Busch brewery in Newark for $360 million to develop a new logistics center.
The former Anheuser-Busch brewery in Newark’s South Ward has been sold to Irvine-based Goodman North America Management for $360 million. The transaction includes $43.6 million for the existing 3.2 million-square-foot structure and $317.4 million for the 87-acre site. The facility, which originally opened in 1951, ceased operations last year.
Goodman plans to redevelop the property into a modern logistics and manufacturing center. This acquisition follows the buyer’s recent redevelopment of a former New York Daily News printing plant in Jersey City. While the existing brewery buildings are slated for demolition, the iconic neon flying-eagle sign previously displayed on the site has been relocated to Anheuser-Busch's headquarters in St. Louis.
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