Bussel Realty Corp. (BRC), a leading industrial real estate services firm in New Jersey, today announced its arranged the sale of 10 Production Way in Avenel, New Jersey, a 55,000-square-foot industrial building, for $6,325,000.
EDISON, NEW JERSEY (December 4, 2017) Bussel Realty Corp. (BRC), a leading industrial real estate services firm in New Jersey, today announced its arranged the sale of 10 Production Way in Avenel, New Jersey, a 55,000-square-foot industrial building, for $6,325,000.
Jordan Metz, senior vice president of BRC, represented the buyer, an undisclosed investor, and the owner, Cantor Companies.
"The trend continues," noted Metz. "There continues to be an insatiable demand from both users and investors for an almost nonexistent supply of well located, functional industrial properties in and around the port-proximate markets, creating fierce competition to purchase. Similar to other assets that have traded, 10 Production Avenue had several full-priced offers, and my client/investor was able to secure the deal by providing aggressive terms with no financing contingency."
10 Production Way is a 55,000-square-foot industrial property located off Route 1-9 and near Exit 12 of the New Jersey Turnpike, the Goethals Bridge and Newark Liberty Airport. The property features a 6,480-square-foot office, 11 loading docks, one drive-in door, 20-foot ceiling heights, wet sprinklers and 2,000 amps of 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 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, 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 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.