BLRA finalizes deal with Ports America

The Bayonne Local Redevelopment Authority (BLRA) announced today that it has completed its sale of 153 acres of the Maritime District at the Peninsula at Bayonne Harbor (the former Military Ocean Terminal) to Ports America. The purchased real estate combines 94 acres of land with 59 acres of underwater property, which will be developed as a state-of-the-art auto marine terminal. Ports America had previously provided the BLRA with a $40 million deposit. Today, Ports
America transferred the balance of the $90 million purchase price to the BLRA.

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