HSJE Realty Buys 41 KSF Industrial Property in NJ
- Apr 16, 2018
HSJE Realty has acquired a Class B, 41,500-square-foot property comprising a mix of warehouse and retail space in East Brunswick, N.J. Sheldon Gross Realty and Corporate America Realty & Advisors brokered the sale.
Located at 2 Claire Road, the facility is fully leased by three tenants utilizing the building for both storage and retail purposes. The Middlesex County assessor’s office most recently evaluated the asset at roughly $1 million.
Sheldon Gross Realty EVP Jonathan Glick and SVP Glenn Jaffe led the negotiations, while Corporate America Realty & Advisors President Howard Applebaum represented the buyer in the transaction.
“An interesting note about this particular deal is that, during negotiations, one of the tenants unexpectedly extended and renewed its lease, while another had an option to purchase,” Glick said in a prepared remark.
The building is situated midway between New York City and Philadelphia, with the New Jersey Turnpike’s Exit 9 and Route 18 easily accessible from the property. In addition, Newark Liberty International Airport is also just a 30-minute drive away.
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