GLP Capital Partners acquired a 143,670-square-foot industrial property in Somerset, CBRE announced Monday. Terms of the deal were not disclosed.
The property, at 2301 Cottontail Lane, was built in 1986. It is a single-story industrial facility with two-story office space situated on nine acres of land in Franklin Township. The property has 13 loading docks, 26’ ceiling heights and is in close proximity to the Bound Brook and Bridgewater commuter rails.
The CBRE Investment Properties team of Mark Silverman, Elli Klapper, Charles Berger and Jeremy Wernick, in conjunction with Kevin Dudley of CBRE’s Industrial & Logistics Group, secured the acquisition on behalf of GCP.
“GCP recently closed a $2.3 billion fund with a focus on investing in logistics assets in key markets across the U.S., including the Northeast Corridor,” Silverman said. “This acquisition is in line with GCP’s investment strategy to buy and operate warehouses tied to logistics and e-commerce.”
