Colliers facilitates $8M sale of warehouse facility in Edison 

Colliers on Tuesday said it successfully completed an $8 million sale of a vacant 29,000-square-foot warehouse at 6 Olsen Avenue in Edison.

Located in Middlesex County, the Exit 10 industrial submarket is one of the strongest in the region and has seen tremendous rent growth of over 70% in the past four years. This growth demonstrates the strong demand for well-located industrial properties in New Jersey.

Colliers Vice Chair Jacklene Chesler and Vice President Patrick Norris represented the private seller in the deal.

The industrial building comprises 26,000 square feet of industrial space, 3,000 square feet of office space and 100 parking spaces.

“This market has increased the number of user-buyers that are looking to invest long-term in their business,” Chesler said. “With an investment in real estate, companies are in a better position to manage their overhead expenses and invest in a longer exit strategy due to appreciation. The financing options for small business owners are aiding their ability as well.”

“Despite an elevated interest rate environment, well located industrial assets continue to draw strong interest particularly from users,” Norris said.

With over 20 million people living within 50 miles of the property, 6 Olsen benefits from its access to a dense labor market and diverse population. The county’s thriving business ecosystem, top-ranked public education system, and vibrant entertainment venues have contributed to its growing reputation as a dynamic hub in the region.

Strategically located near the Port of New York & New Jersey, the number one U.S. port by volume, and Newark Liberty International Airport, the property is highly accessible to distribute goods and services worldwide.

As a result of the county’s commuter-friendly infrastructure, the warehouse offers unparalleled accessibility to New York City and Philadelphia. It’s prominently positioned with easy access to major highways, such as the New Jersey Turnpike, and public transportation, such as the NJ Transit train service.

Christopher Galiano of NAI DiLeo-Bram & Co. represented the buyer, who will occupy the building.