N.Y. firm buys Edison light industrial property for $11M

A New York-based real estate company has acquired a light industrial building in Edison for $11 million, it announced Wednesday.

Northpath Investments purchased the 63,200-square-foot building — which also has research & development capabilities — at 3920 Park Ave., it said in a news release. The building is fully leased to EOS Energy Services, a clean energy storage solutions company that has been a tenant since 2016.

“We are excited to add 3920 Park Ave. to our growing portfolio,” Gershon Alexander of Northpath said in a prepared statement. “This property is located in one of the best-performing industrial markets in the region due to its extensive highway network and access to a robust labor market.”

The seller was not disclosed.

Michael Klein and Max Custer of JLL represented Northpath in arranging a five-year, fixed-rate loan for $7.2 million with Signature Bank as part of the transaction.