The New Jersey office of Duke Realty announced it recently acquired a 469,600-square-foot industrial warehouse located on 65 acres at 600 Ridge Road in Piscataway.
The building, built in 2019, sits in one of the state’s highly sought-after submarkets — the Interstate 287 Corridor.
This acquisition is a continuation of Duke Realty’s strategy of adding modern and conveniently located facilities to meet companies’ warehouse and distribution needs through development and acquisitions. With this addition, Duke Realty’s New Jersey portfolio is now 9.6 million square feet.
Leased to Kiss Nail Products Inc., the facility serves as its distribution center for nail products, hair accessories and cosmetics that ship to retailers in more than 100 countries.
“Warehouse and distribution space is tight across the country and, here in New Jersey, the most desirable space is along the I-287 corridor with access to millions of consumers and nearby ports,” said Art Makris, regional president of Duke Realty’s Northeast Region. “We are always looking for these types of opportunities to add existing, yet modern, facilities to our portfolio. The added bonus is retaining an established tenant that we can now count as a customer.”
Duke Realty’s acquisition at 600 Ridge Road boasts 40-foot clear height, 100 dock doors and a 130-foot truck court. The warehouse is well-situated just two miles from Interstate 287 and 12 miles from Interstate 95.
“Our acquisition strategy remains focused on infill, functional assets in high-barrier tier 1 markets, and the acquisition of this modern distribution facility bolsters our best-in-class portfolio,” said Seth Hall, assistant vice president of acquisitions for Duke Realty.
“We are continuously pursuing similar acquisition opportunities as we look to expand our footprint in northern New Jersey.”
Thomas Kirczow with NAI DiLeo-Bram & Co. represented the seller in this transaction.