CenterPoint Buys 224 KSF Industrial Asset in NJ
The company continues its buying spree in the state's port-related submarkets, with the acquisition of a a fully leased warehouse and distribution facility in South Brunswick, N.J.
By Corina Stef
27 Distribution Way, South Brunswick, N.J.
CenterPoint has acquired a 223,977-square-foot industrial building in South Brunswick, N.J., from distribution and outsourcing company Bunzl, public records show. The property is fully occupied by the seller.
The 1972-built facility sits on 16 acres at 27 Distribution Way and features:
- rail service
- 28 loading positions
- 220-foot truck court
- 52 trailer parking spots
Routes 130 and 1, as well as Interstate 95, offer access throughout the entire area, as well as to the ports of New York and New Jersey.
Marcus and Millichap’s Ben Sgambati and Elsa Loverde represented the seller in the transaction. The firm also recently negotiated the sale of another two industrial buildings in New Jersey.
“This is CenterPoint’s third acquisition in New Jersey in the last 12 months and our East Coast portfolio now consists of more than 12.5 million square feet located in the port-related submarkets,” CenterPoint Senior Vice President of Investments PJ Charlton said in a prepared statement. “We have invested more than $2 billion into the industrial sector in the last three years and look forward to continuing our growth in 2018.”
Image courtesy of Yardi Matrix
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