Bussel Realty Corp Represents Sale of 1301 West Elizabeth Avenue in Linden, New Jersey

Bussel Realty Corp. (BRC), a leading industrial/retail real estate services firm in New Jersey, today announced it sold 1301 West Elizabeth Avenue in Linden, New Jersey, a 138,000-square-foot-industrial-building, for $15 million.

Bussel Realty Corp Represents Sale of 1301 West Elizabeth Avenue in Linden, New Jersey
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    Bussel Realty Corp Represents Sale of 1301 West Elizabeth Avenue in Linden, New Jersey

    Bussel Realty Corp. (BRC), a leading industrial/retail real estate services firm in New Jersey, today announced it sold 1301 West Elizabeth Avenue in Linden, New Jersey, a 138,000-square-foot-industrial-building, for $15 million.

    Steve Bussel, president, and Gregory Irving, executive vice president, of BRC represented the seller, JRT Realty, in the transaction. The buyer, Gold Tree Management, was represented by Jordan Metz, senior vice president, of BRC.

    “It was a pleasure to work with our long-time client, JRT Realty, in the sale of this well-located industrial property,” noted Bussel. “With New Jersey’s sub-two percent industrial availability rate and rents climbing to never-seen-before double digits in submarkets near the ports, New York City, and Newark Liberty Airport, industrial properties are trading at record high prices.”

    “This was a true value-add play; our buyer, a long term client, recognized the opportunity and acted quickly and decisively to acquire it,” noted Metz. “This multi-tenant industrial facility is superbly located with immediate access to major highways, has ceiling heights up to 24 feet, and is outfitted with loading docks and grade level doors. Our buyer will be making various improvements to the site and will capture huge upside with expiring leases coming due soon, as market rental rates continue to soar. We look forward to quickly leasing up the renovated spaces.”

    Totaling 138,000 square feet, 1301 West Elizabeth Avenue in Linden, New Jersey is a multi-tenanted industrial property in close proximity to the New Jersey Turnpike, Route 1-9, I-78, Goethals Bridge as well as Port Newark/Elizabeth and Newark Liberty Airport. The property features 16- to 22-foot ceiling heights, five tailboards, wet sprinklers, and 800 to 2,000 amps of electric power.

     

    About Bussel Realty Corp.

    With one of the largest dedicated industrial brokerage staffs in New Jersey, Bussel Realty Corp. (BRC) is a leading industrial/retail real estate services firm located in Central New Jersey with individual memberships in the Society of Office & Industrial Realtors (SIOR). BRC provides leasing and sales brokerage services to users, corporate occupiers, landlords, retailers, owners, and investors, representing millions of square feet of property and tenant client assignments annually. The firm’s clients have included several of the largest Fortune 500 Companies, as well as numerous manufacturing, distribution, retail and services companies both nationally and locally. Currently, BRC is handling in excess of three million square feet of corporate and industrial real estate in New Jersey.

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    Bussel Realty Corp
    2 Ethel Road - Suite 202A
    Edison, NJ 08817
    732-287-3777