Cushman & Wakefield Brokers New Jersey Industrial Center Sale
- Feb 11, 2020
Cushman & Wakefield has negotiated the sale of Fox Hollow Industrial Science Center, a 42,653-square-foot facility in Branchburg, N.J. A private investor acquired the asset for $6.4 million from DLP Real Estate Capital. The asset is currently fully occupied by three tenants.
The brokerage team that facilitated the disposition on behalf of the seller and also procured the buyer included Cushman’s Andrew Schwartz, Andrew Merin, David Bernhaut, Gary Gabriel, Brian Whitmer, Kyle Schmidt and Jordan Sobel.
Located at 3434 Route 22 on 6.5 acres, the property was completed in 1988. DLP Real Estate recently executed renovations on the building and replaced its roof. The flex/industrial structure features 22-foot ceiling heights and four loading docks.
The property is 6 miles from Somerset Airport and roughly 5 miles from Interstate 78, which also allows access to Interstate 278. Several dining and shopping opportunities are available within 2 miles.
Most recently, Cushman became the exclusive leasing agent for 21 South Street in Morristown, N.J. The owner, The Hampshire Cos., intends to renovate and extend the property.
If you’d like to be featured in Brokers’ Corner, send your deal to firstname.lastname@example.org.