Love and Long, L.L.P. represented Brick City Development Corporation, Newark’s economic development catalyst, in the sale of the 105,000 square foot South Ward Industrial Park site to Bartlett Dairy, a major food and dairy distributor with operations in New Jersey, Connecticut and New York with sales in 2009 of $141 million.
The acquisition price for the building was $4.5 million. The firm prepared and negotiated the redevelopment agreement, including first-source hiring provisions giving Newark residents priority for all openings, and the community benefits agreement, and assisted with the relocation of tenants and other legal services. Bartlett is the exclusive, tri-state distributor to over 550 Starbucks stores and will bring over 400+ jobs to the city over the next five years and will generate $200,000 in taxes for Newark annually.