CBRE on Friday announced the sale of 3091 Route 22 E., a newly developed industrial property in Branchburg. Previously a miniature golf and driving range, the property was acquired by TYH Branchburg LLC from Transwestern Development Co. The purchase price was not disclosed.
Developed by Transwestern and built by Arco Designs/Build Industrial, 3091 Route 22 E. is a 311,040-square-foot, state-of-the-art industrial facility on 26.56 acres in the heart of Branchburg.
CBRE’s Randy Eigen represented the buyer in the negotiations, while the Avison Young team of Matthew Turse, Tim Cadigan, Judy Troiano, John Gianis and Stephen Gianis acted on behalf of the seller.
“The acquisition of this newly developed facility allows TYH to consolidate two locations it previously leased in Bayonne and Lebanon into one Class A property that boasts 40’ clear ceilings, 42 loading docks, trailer parking, an emergency standby generator and a solar-ready roof,” Eigen said. “Moreover, the location provides toll-free access to the ports of Newark and Elizabeth. Brian Banaszynski, Transwestern’s regional partner, was totally hands-on and made sure that every detail was addressed.”
Stephen Fleissig of Greenberg Traurig was legal counsel to the purchaser and Edward Butler of McCarter & English was legal counsel to the seller.
