525 W. Linden Ave. Picture courtesy of Brdige Industrial
Bridge Industrial has bought a 115,000-square-foot industrial facility in Linden, N.J. The Blau & Berg Co. labored on behalf of each Bridge and the vendor, a non-public particular person. After renovation plans, the ability will likely be accessible for lease ranging from the fourth quarter of 2024.
On the time of the sale, one tenant absolutely occupied the constructing, truck dealership firm Allegiance Vans, based on CommercialEdge knowledge. Positioned at 525 W. Linden Ave, the Class B property contains 19-foot clear heights, one dock-high loading door, a virtually 7,500-square-foot workplace element, 19 grade-level drive-in doorways, a 5-acre parking space and out of doors storage capabilities.
Bridge Industrial plans to implement a capital enchancment technique on the property, initially in-built 1949. The mixture of purposeful warehousing house and ample parking, along with its further yard areas, makes the asset a uncommon alternative in a supply-constrained market, famous Bridge Industrial’s Director of Acquisitions, Stefan Sansone, in ready remarks.
A robust New Jersey industrial presence
Located on a 9-acre lot, the distribution facility supplies easy accessibility to interstates 9, 278 and 95 and is 7 miles from Newark Liberty Worldwide Airport, 12 miles from Port Elizabeth, 19 miles from New York Metropolis and inside 20 miles of Pink Hook Terminal. Demand within the New Jersey area continues to develop and the asset’s strategic location will likely be a key consider attracting robust tenants, added Bridge Industrial Accomplice Jeff Milanaik, in ready statements.
The brand new proprietor is rising its footprint within the area. In April, it bought a 152,000-square-foot industrial facility in Franklin Township, marking Bridge’s first value-add industrial asset in New Jersey. Earlier in June, the corporate secured $64.3 million in financing for its upcoming Bridge Level 15E in Newark, N.J. The 211,388-square-foot Class A distribution middle will rise close to the Port of New York and New Jersey, with completion anticipated in late 2024.
