Lincoln Equities Group has purchased a 295,000-square-foot, 15.25-acre industrial site in Belleville for $13 million with the intent of redeveloping it into a modern warehousing space.
The deal, which closed in December, was announced Thursday afternoon.
The site, located at 681 Main St. in Belleville, has been owned and operated by the Ellis family since the 1970s. It has excellent access to the Lincoln Tunnel, Route 3, Route 21, Interstate 95, Interstate 280 and the Garden State Parkway.
Lincoln Equities Group has committed to remediating and redeveloping the property into modern warehousing.
Jason Lynch and Troy Wisse of Lee & Associates – New Jersey represented the seller, Belleville Industrial Center Inc.
“This disposition was especially meaningful as Lee & Associates was, once again, able to help a family business capitalize on historically high demand for industrial land,” Lynch said.
Lynch said Lincoln Equities was the right buyer for this asset.
“They had the expertise necessary to navigate the site’s unique challenges,” he said.