N.Y.-N.J. Port Authority approves lease with BMW in New Jersey
The Port Authority of New York and New Jersey said its board on Thursday approved a lease with BMW of North America LLC for about 10 years for 10 acres of open area at the port authority's Auto Marine Terminal in Jersey City for the expansion of an existing vehicle processing center.
The board also approved a supplemental agreement with BP Products North America Inc. for the continued lease of 800 linear feet of berth space and about 11 acres of open area in connection with its petroleum storage and distribution operations at Port Newark.
It also approved a settlement agreement with Donjon Marine Co. Inc., regarding a dispute related to certain leaseholds and permits for seven berths at Port Newark. As part of the settlement agreement, two new agreements with Donjon were authorized for a five-year term, with an additional five-year option, for the leasing of 2,624 linear feet of berth space and four acres of land at four of the berths at Port Newark.