The Port Authority of New York and New Jersey AgendaPacket Board of Commissioners Meeting 2026-06-23
Port Authority Approves New Lease With Accem Warehouse
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Description
The Port Authority Board approved a new seven-year lease with Accem Warehouse, Inc. for Building 150 at the Port Jersey-Port Authority Marine Terminal, valued at approximately $18 million. Accem will assume maintenance responsibilities, complete specified repairs, and both parties will enter a settlement resolving claims under the prior lease.
Contract Details
Contract Amount
approximate total aggregate rental over the Lease term of $18 million
Vendor
ACCEM WAREHOUSE INC
Agency
Port Authority of New York and New Jersey, NJ
Contract Type
FACILITIES
Document Date
June 23, 2026
Contract Term
Seven-year term retroactive to March 1, 2024 and expiring February 28, 2031
Renewal Date
2031-02-28
Renewal Info
New seven-year lease replacing a prior tenancy, retroactive to March 1, 2024, expiring by its terms on February 28, 2031; no explicit renewal options described.
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