Industrial Outdoor Ventures Enters NJ Market

75 Glendale Ave. Image courtesy of NAI James E. Hanson

Industrial Outdoor Ventures has acquired an 8.7-acre construction site in Edison, N.J., from Railroad Construction Co. This is the company’s first purchase of this type in the state. NAI James E. Hanson represented the buyer in the transaction.

The property, which is an industrial outdoor storage, last traded in 2005, for a sale price of $2.2 million, according to CommercialEdge data. Railroad Construction will continue to lease the asset, located at 75 Glendale Ave.

The asset features 8.7 acres of outdoor storage and a 35,729-square-foot maintenance building, completed in 1960. The property is just 1 mile from the intersection of New Jersey Turnpike and Route 18 and offers access to U.S. Highway 1. Newark and New York City are approximately 25 miles away. Other industrial sites and buildings in the surrounding area host pharmaceutical companies, as well as warehousing and logistics businesses such as United Distribution Services, Americold Logistics and American International Warehouse.

Based in Chicago and established in 2017, Industrial Outdoor Ventures is the first company specializing exclusively in outdoor storage facilities. Despite not being a mature and well-established market, the industrial outdoor storage sector is no longer considered a niche segment, as the demand has increased during the pandemic due to the growth of e-commerce businesses.

The NAI James E. Hanson team included Senior Vice Presidents Scott Perkins, Chris Todd and Associate William Ericksen.