A 50,400-square-foot, last-mile distribution center in Branchburg has been sold, according to real estate firm JLL Capital Markets.
JLL marketed the property at 161 Meister Ave., which is fully leased to a multinational investment-grade tenant, on behalf of the seller, Elberon Development Group and the Avidan Group. NorthBridge Partners purchased the asset.
Financial terms were not disclosed.
The team representing the sellers was led by Marc Duval, Jordan Avanzato, Mike Oliver, Jose Cruz and Mike Kavanagh.
“This is the most active and robust industrial market that we have seen all cycle,” Duval said in a prepared statement. “Investors continue to pursue opportunities in the industrial space, and existing operators are rapidly ramping up their platforms.”