International-Matex Tank Terminals (IMTT) plans to consolidate its existing bulk liquid storage operations in Bayonne, New Jersey, freeing up approximately 130 waterfront acres for redevelopment on the company’s 450-acre property.
The consolidation will enable IMTT to serve its bulk liquid customers more efficiently and attract additional economic development opportunities to the Bayonne area, IMTT said. After the anticipated reduction in storage capacity, IMTT’s Bayonne terminal still will be the largest bulk liquid storage terminal in the New York Harbor area.
“We are pleased to announce that IMTT is consolidating a portion of the Bayonne terminal and embarking on a transformational development process for the eastern portion of the property,” Carlin Conner, IMTT chairman and CEO, said in a news release. “This will allow us to continue providing high-quality storage and logistics services on the west side of our property and pursue sustainable development opportunities on the east side.
“IMTT has proudly been operating in Bayonne for nearly four decades, and we are committed to continuing to provide the safe and dependable services our storage and logistics customers rely on, while also preparing the east side of our property for commercial activity that will support growth in the community for years to come. We are eager to work with the city of Bayonne, the state of New Jersey and other various stakeholders on a plan that will provide significant economic and environmental benefits to Bayonne and the broader New York metropolitan area.”
IMTT is considering all potential development opportunities for the approximately 130 acres on the east side of its Bayonne property, the company said. Given IMTT Bayonne’s unique location within a 15-mile radius of nearly 8.3 million people, the property is well suited for a variety of industrial and commercial uses. The property also is within a 3-mile radius of the Port of New York and New Jersey, the largest container port on the U.S. East Coast and one of the three largest in the nation.
“We have been working closely with IMTT over the past year regarding the future of its Bayonne facility and I am pleased that this plan will bring economic development and jobs to the city,” said Jimmy Davis, Mayor of Bayonne. “We look forward to working with prospective partners to leverage the significant advantages of locating their businesses at IMTT’s unique property.
“This is a great day for the city of Bayonne.”