NJ Industrial Asset Attracts Long-Term Investment
ByNAI James E. Hanson has brokered the sale of a 157,822-square-foot industrial building in Flanders, N.J., on behalf of both the seller, 700 Bartley Chester Road LLC, and the buyer, CRG 700 LLC.
“The location of the property, its targeted use as an investment property, the quality of the existing structure and the buyer’s familiarity with the local market made this a highly appealing property,” Joshua Levering, SIOR, NAI James E. Hanson’s senior vice president, told Commercial Property Executive. “The building was held in a trust which wanted to redeploy the funds in different directions. As a leased investment warehouse/manufacturing property, the demand was very strong.”
Located at 700 Bartley Chester Road, the property features four one-ton crane rails and two half-ton crane rails, 11 tailgates, three drive-ins, 82 parking spaces and 8,524 square feet of office space…
