Bridge Industrial acquired 525 W. Linden Ave., a 115,000-square-foot industrial service facility in Linden, according to a Wednesday announcement.
Bridge acquired the 9.2-acre property, originally built in 1949, from a private seller. It features 19-foot clear heights; 19 grade-level drive-in doors; one dock-high loading position; 5 acres of excess parking; and roughly 7,500 square feet of dedicated office space for incoming tenants.
Bridge plans on executing a number of capital improvements to the building and the parking lot, and the facility will be available for full occupancy in the fourth quarter of 2024.
The site’s close proximity to Routes 1 and 9 and Interstates 95 and 278 provides prospective tenants with seamless inbound and outbound flow and easy access to the New Jersey ports, Newark Liberty International Airport and the New York City metropolitan area.
“The city of Linden has always held a business-forward philosophy, due to its premier location near the major ports, airports and the (New Jersey) Turnpike, and we are grateful for its partnership in our acquisition,” Jeff Milanaik, partner, Northeast Region, at Bridge, said. “Demand in this region only continues to grow, and the site’s current use promises to draw a strong tenant that will boost the region’s economy and continue positioning it as a destination for trucking, heavy equipment and bulk material users.”
“In a land-constrained market with increasing demand for outdoor storage, this facility presents a rare opportunity to acquire an operational maintenance facility with significant yard area in New Jersey’s strongest submarket,” Stefan Sansone, director of acquisitions, Northeast Region, at Bridge, stated.
The Blau & Berg Co. represented both Bridge and the seller in the transaction.
Bridge continues to expand its presence across New Jersey and, in late April, acquired its first value-add industrial property in the state — a 152,000-square-foot facility in Franklin Township.