Woodbridge-based NAI DiLeo-Bram & Co. on Thursday announced the $21 million sale of a 67,355-square-foot warehouse/industrial property located at 1900 Lower Road in Linden.
NAIDB Managing Director and Principal Christopher Galiano exclusively represented the buyer, Service Truck Tire Centers, in the transaction.
“In a market where owner/occupiers have been virtually shutout of warehouse, distribution and manufacturing acquisition opportunities during the course of the last 12 months, NAIDB was able to secure this rare-to-market New Jersey/New York Metro investment asset on behalf of our longstanding client, Service Truck Tire Centers,” Galiano sid.
Situated on over 6 acres between East Lincoln Avenue and Avenue C, offering direct access to Route 1, 1900 Lower Road is located adjacent to an Amazon fulfillment center. Property features include an all-concrete-block façade, 175 on-site paved-surface parking spaces, multiple loading areas and newly renovated office space with a complete rooftop solar system.
Since being built in 1960, 1900 Lower Road has been the home base for Turtle & Hughes, one of the nation’s largest independent electrical and industrial distribution companies and the building’s sole occupier for the past 60 years.
According to Galiano, STTC plans to renovate the property to accommodate its future growth initiatives. The family-owned company, which was founded in 1955, previously occupied 36,000 square feet in nearby Avenel, which is being marketed by Galiano for sublease.
“As a longtime important logistics hub given its strategic location on the East Coast, the Elizabeth/Linden industrial submarket and its warehouse/distribution assets stand out for their consistent, strong performance — which is exactly what attracts and retains companies like STTC,” Galiano added. “And, thanks to our command of local, regional and national logistics and distribution corridors, we were able to facilitate this industrial-property transaction and achieve our client’s objectives.”