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Bussel Realty Corp. (BRC), a leading industrial real estate services firm in New Jersey, today announced its arranged the sale of 218-224 11th Avenue in Roselle, New Jersey, two industrial properties totaling 20,000 square feet, for $2,000,000.
Northern/Central NJ Market Overview Over 8.0 million square feet leased during the second quarter in the Northern/Central NJ industrial market. Year-to-date over 15.3 million square has leased in the market. • Average asking rates rose to $10.09 per square foot. • Availability/vacancy rate continued to edge lower during the quarter at 2.2%, despite the significant new construction coming online. • More than 2.0 million square feet of industrial properties sold during the second quarter (not including portfolio). • Average sales price during the quarter was approximately $108 per square foot, which is nearly 30% increase from a year ago.