A fully leased industrial building in South Brunswick was recently sold to Invesco Real Estate, according to a Tuesday announcement from JLL Capital Markets.
Located at 152 Ridge Road, the 216,000-square-foot, cross-dock warehouse facility features 33 loading doors and 30-foot clear heights. It was built in 1991.
A full-service, third-party logistics company that specializes in shipping via coast-to-coast less than truckload, full truckload and intermodal occupies the entire property.
The JLL Capital Markets team was led by Managing Directors Jordan Avanzato and Marc Duval, Directors Nicholas Stefans and Jason Lundy, Senior Managing Director Jose Cruz and associate Conor Walsh.
“We have seen no shortage in demand for well-located, quality real estate in New Jersey,” Avanzato said. “The Exit 8A market has long been one of the strongest performing markets in New Jersey and continues to see rent growth and staggering absorption rates.”
“The industrial market in New Jersey has been a strong performer despite the headwinds over the past year and we are seeing the reemergence of institutional capital to verify it,” Duval added.
