Cushman & Wakefield arranged the sale of 52-90 Amsterdam St., a 5.6-acre industrial development site in Newark, according to a Tuesday announcement from the real estate firm.
C&W’s Gary Gabriel, Kyle Schmidt, Ryan Larkin, Will Gerlin and Tom Tucci represented the seller, a joint venture between Grandview Partners and Capital Development Partners, and procured the buyer, Daybreak Express, in the transaction.
“The sale of 52-90 Amsterdam illustrates the continued investor demand for industrial outdoor storage despite the uptick in interest rates over past 90-120 days,” Schmidt said.
Situated at the crossroads of Interstates 95 and 78, 52-90 Amsterdam is less than five minutes from Port Newark and Newark Liberty International Airport, making it ideally positioned to capitalize on increasing port traffic and the scarcity of outdoor storage spaces.
