Cohen Asset Management Buys New Jersey Warehouse

The Legacy Cos. will occupy more than half of the nearly finalized 145,950-square-foot logistics facility in Hamilton Township.
Kuser Industrial Center. Image courtesy of CBRE

Cohen Asset Management Inc. has purchased Kuser Industrial Center, a 145,950-square-foot bulk warehouse/distribution property in Hamilton Township, N.J., currently nearing completion. Scannell Properties was the seller, according to CommercialEdge data.

Public records show that Scannell picked up the 16.5-acre parcel in 2019 for $2.9 million. As reported by Rebusiness Online in November, The Legacy Cos.—a food service and consumer appliance manufacturer—signed a 78,585-square-foot lease at the Class A location, leaving more than 67,300 square feet available for additional tenants.

Situated at 2555 Kuser Road in central New Jersey, the facility sits just off Interstate 195 and 11 miles of Interstate 95. The asset is located between New York City and Philadelphia, closer to the latter, at a 40-mile distance. Port Newark, Port Elizabeth and the Port of Philadelphia are equidistant from the site.

With expected delivery in the beginning of 2021, Kuser Industrial Center offers 9 loading docks with room for the addition of 8 doors, 36-foot clear heights and 7-inch concrete floor slabs. The property also includes LED lighting and an ESFR sprinkler system.

Cohen’s current footprint in the New Jersey/New York area spans more than 3 million square feet across 33 buildings. Last month, the company paid $37.3 million for a newly constructed industrial asset in Los Angeles.