Bridge Industrial Picks Up Northern New Jersey Asset

525 W. Linden Ave. Image courtesy of Brdige Industrial

Bridge Industrial has purchased a 115,000-square-foot industrial facility in Linden, N.J. The Blau & Berg Co. worked on behalf of both Bridge and the seller, a private individual. After renovation plans, the facility will be available for lease starting from the fourth quarter of 2024.

At the time of the sale, one tenant fully occupied the building, truck dealership company Allegiance Trucks, according to CommercialEdge data. Located at 525 W. Linden Ave, the Class B property includes 19-foot clear heights, one dock-high loading door, a nearly 7,500-square-foot office component, 19 grade-level drive-in doors, a 5-acre parking area and outdoor storage capabilities.

Bridge Industrial plans to implement a capital improvement strategy at the property, originally built in 1949. The combination of functional warehousing space and ample parking, together with its additional yard spaces, makes the asset a rare opportunity in a supply-constrained market, noted Bridge Industrial’s Director of Acquisitions, Stefan Sansone, in prepared remarks.

A strong New Jersey industrial presence

Situated on a 9-acre lot, the distribution facility provides easy access to interstates 9, 278 and 95 and is 7 miles from Newark Liberty International Airport, 12 miles from Port Elizabeth, 19 miles from New York City and within 20 miles of Red Hook Terminal. Demand in the New Jersey region continues to grow and the asset’s strategic location will be a key factor in attracting strong tenants, added Bridge Industrial Partner Jeff Milanaik, in prepared statements.

The new owner is growing its footprint in the region. In April, it purchased a 152,000-square-foot industrial facility in Franklin Township, marking Bridge’s first value-add industrial asset in New Jersey. Earlier in June, the company secured $64.3 million in financing for its upcoming Bridge Point 15E in Newark, N.J. The 211,388-square-foot Class A distribution center will rise near the Port of New York and New Jersey, with completion expected in late 2024.