Beer-making giant Anheuser-Busch has closed on the $360 million sale of its brewery near Newark Liberty International Airport in New Jersey, a local landmark that was known for its animated neon flying-eagle sign.
Goodman North America Management of Irvine, California, acquired the manufacturing complex on Route 1 in Newark in March, according to recently filed deeds. It paid $43.6 million for the roughly 75-year-old brewery's buildings and about $317.4 million for the land they sit on, according to the public documents.
Anheuser-Busch, whose U.S. headquarters is in St. Louis, in December said it was closing three breweries, including the one in New Jersey. At the time, it said it was selling the Newark facility to Goodman and expected that deal to close this year. It didn't disclose the purchase price at that time.
Goodman declined to comment, and Anheuser-Busch didn't respond to an email from CoStar News on Friday seeking comment.
Anheuser-Busch — part of the world’s largest beer brewer, Anheuser-Busch InBev — last year said that Goodman planned to redevelop the Newark brewery as a logistics and manufacturing center. Similarly, Goodman acquired a former New York Daily News printing plant in Jersey City, New Jersey, for $92 million in February 2024 and is redeveloping the property as a distribution center.
The Newark brewery's iconic 15-ton Anheuser-Busch eagle sign was removed from the top of the property in January to be relocated to the beermaker's St. Louis headquarters, preserved and displayed there.
Newark, the Garden State’s largest city, was once a beer-brewing center for the United States, with several dozen operating breweries, including P. Ballantine and G. Krueger Brewing. The Anheuser-Busch brewery is located on an 87-acre site and has 3.2 million square feet, according to CoStar data.