Under-construction warehouse in Hamilton sells for $29.6M, CBRE says

A 146,000-square-foot warehouse under construction in Hamilton has been acquired, according to real estate firm CBRE, which has been named exclusive leasing agent for the property.

The property at 2555 Kuser Road, called the Kuser Industrial Center, was sold by Scannell Properties to Cohen Asset Management Inc. for $29.6 million, CBRE said in a news release. The industrial building measures 145,950 square feet and is expected to be ready in February.

A CBRE National Partners team of Brian Fiumara, Michael Hines, Brad Ruppel and Lauren Dawicki led marketing of the property and represented the seller.

“The Kuser Industrial Center offered a unique opportunity to acquire a new Class A industrial property that benefits from superior highway access and an abundant available labor pool in a location equidistant from Port Newark, Port Elizabeth and the Port of Philadelphia,” Fiumara said in a prepared statement.

CBRE was also named exclusive leasing agent for the property, which has 67,365 square feet of available space. CBRE’s Mindy Lissner, Robert Pine, Ben Shapiro, Dan McGovern and David Gheriani will handle the assignment.

Scannell is based in Indianapolis, while Cohen is based in Southern California.