SOLD – Bankruptcy Sale: Five Environmental Impacted Development Sites

The Portfolio sold for $21,000,000

Situation Overview

Keen-Summit Capital Partners LLC , has been engaged by Maxus Energy Corporation and Tierra Solutions, Inc. as its exclusive real estate broker for the offering of these 5 owned development sites. Each of the properties that are available are impacted via environmental issues.  However, all environmental concerns, such as investigation, remediation and maintenance, are the responsibility of the third party.  Any parties interested in making an offer for any of these development sites need to submit offer by the offer deadline.

Area Overview

The Properties are located in New Jersey, Ohio and Alabama.  The properties in New Jersey and Alabama are located in industrial areas and may have potential for industrial development.  The property in Ohio is located on Lake Erie and has potential for residential and recreational development.  This site has approximately 200 lakefront acres that are presently remediated and ready for development.

Kearny, Hudson County, NJ – Belleville
Address:  1015 Belleville Tpke, Kearny, NJ
Land Size:  28.65Acres Across 4 Parcels
Description:  Vacant land with access via BellevilLe Tpke.  Frontage on Belleville Tpke, Hackensack River and Amtrak railroad. Potential Industrial Development  Interim Containment Remedy & Continuous Monitoring

Kearny, Hudson County, NJ – O’Brien
Address:  2 O’Brien Road, Kearny, NJ
Land Size:  6.76 Acres Across 5 Parcels
Description:  Vacant land  with M zoning (Manufacturing), has access from O’Brien Rd and Sellers St.   Interim Containment Remedy & Continuous Monitoring

Newark, Essex County, New Jersey
Address:  86-102 Lister Avenue, Newark, NJ
Land Size:  5.82 Acres Across 2 Parcels
Description:  Site is located along the Passaic River in Industrial Area.  Interim Remediation Completed with on-going management

Painesville, Lake County, Ohio
Address:  1200 Fairport Nursery Rd, Painesville, OH
Land Size:  1,038.82 Acres Across 21 Parcels w/ 200+ Ready for Development
Description:  Land is located along the Grand River and Lake Erie with 200+ lakefront acres ready for development of residential and recreational uses.  Continuous Monitoring & Active Planning and Investigation

Tuscaloosa, Tuscaloosa County, Alabama
Address:  5421 Reichold Road, Tuscaloosa, AL
Land Size:  16.66 Acres Across 5 Parcels
Description:  Land is adjacent to the Black Warrior River; Interim Remediation Completed with Continuous Maintenance & Monitoring


Christopher Mahoney
(646) 381-9205

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