100 New England Ave. Picture courtesy of JLL
Stag Industrial has bought a 101,381-square-foot industrial facility in Piscataway, N.J., for $26.5 million, Middlesex County public information present. JLL Capital Markets organized the sale-leaseback ton behalf of the vendor, Strato Inc., which has owned the asset since 2004, based on CommercialEdge information.
The only-story property is positioned at 100 New England Ave. and options one drive-in door and 6 loading docks, 24-foot clear heights, ESFR fireplace sprinkler methods, a 120-foot truck court docket and 76 parking spots. The power is totally occupied by two tenants, Strato and The Hose Store, based on CommercialEdge.
Located on an 8-acre lot, the warehouse is near interstates 287 and 95, 16 miles from Linden, N.J., 29 miles from Port Newark, 24 miles from Newark Liberty Worldwide Airport and inside 32 miles of Jersey Metropolis, N.J.
JLL Capital Markets Govt Managing Director Frank Recine, Managing Administrators Marc Duval and Jordan Avanzato, Senior Managing Director Jose Cruz and Administrators Nicholas Stefans and Jason Lundy represented the vendor.
In keeping with latest CommercialEdge information, New Jersey led the Northeast area when it comes to industrial emptiness charges, development pipeline quantity and gross sales, with year-to-date gross sales at $345 million as of March.
Current offers within the space embrace Hines’ acquisition of Newark Distribution Heart, a three-property industrial portfolio totaling 738,000 sq. toes in Newark, N.J. Turnbridge Equities and Lengthy Wharf Capital offered the asset for $127.4 million.
