Ridgecut Road on Tuesday said it acquired a 6.5-acre infill, Class A industrial service and outdoor storage facility inclusive of a 12,000-square-foot, 20-door terminal, 9,000-square-foot maintenance facility with 14 drive-thru doors and a 20,000-square-foot warehouse building surrounded by outdoor storage (14.3% site coverage) in New Brunswick.
The site features multiple entrances on How Lane and Jersey Avenue, warehouse space with 28-foot clear height and dock-high loading positions, and generous industrial outdoor storage space around the existing buildings.
The property is fully paved, lit and fenced, and is situated within Exit 9 submarket of the New Jersey Turnpike, where it provides unparalleled access to Port Newark/Elizabeth, New York City and nearly 50 million consumers within a 4-hour drive.
Currently leased to five tenants including a trucking and transportation, pallet and truck parts business on a short-term basis, the property offers versatility for a deep pool of tenants in the industrial market.
“We are excited to add this irreplaceable low-coverage industrial property to our growing portfolio of industrial assets in the N.J./NYC market,” said Eric Shalek, co-founder and principal alongside his identical twin brother and partner, Scott.
Scott Shalek added, “107 How Lane is mission-critical real estate that serves as the backbone of our supply chain; however, you cannot find or develop assets like it today.”
Kyle Gerace at NAI DiLeo-Bram brokered the off-market sale while Michael Klein, Max Custer, and Ben Morgenthal at JLL arranged the financing through Byline Bancorp.
