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Invesco Real Estate has acquired 152 Ridge Road in South Brunswick Township, New Jersey. The 216,000-square-foot cross-dock warehouse facility, built in 1991, features 33 loading doors and 30-foot clear heights. It is fully leased to a third-party logistics company specializing in coast-to-coast shipping. Terms of the sale were not disclosed.
A JLL team, led by Jordan Avanzato and Marc Duval, arranged the sale. JLL directors Nicholas Stefans, Jason Lundy, Jose Cruz, and Conor Walsh also contributed to the transaction.
“We have seen no shortage in demand for well-located, quality real estate in New Jersey,” stated Avanzato. “The Exit 8A market has long been one of the strongest performing markets in New Jersey and continues to see rent growth and staggering absorption rates.”
Hear from experts at the Connect Industrial Midwest 2024 event on March 5 at Joe’s Live in Rosemont, Illinois. Click here for more information and to register.
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