28 Worlds Fair Drive in Somerset — Courtesy: Cushman & Wakefield
By Joshua Burd
An affiliate of The Silverman Group has acquired a nearly 50,000-square-foot flex-industrial building in the Somerset section of Franklin, brokers with Cushman & Wakefield announced.
According to a news release, SL Industrial Partners paid an undisclosed sum for the property at 28 Worlds Fair Drive. Cushman noted that the 49,172-square-foot facility was 40 percent leased and home to four tenants at the time of the sale, while touting its upside due to its proximity to Interstate 287, routes 18 and 22 and other major corridors.
The firm’s Andrew Schwartz, Jordan Sobel, André Balthazard and Dan Bottiglieri represented the undisclosed seller and procured the buyer in the transaction.
“The property’s location on Worlds Fair Drive, one of the primary business locations in Somerset, coupled with its flex-industrial capabilities, made it an attractive investment for SL Industrial Partners,” Sobel said.
Sitting on 4.5 acres, 28 Worlds Fair Drive has two dock side doors and 152 parking spaces, the news release said. It was originally designed as a light-manufacturing facility.
“We are pleased to announce this new acquisition, which complements SL Industrial Partners’ growing New Jersey industrial portfolio,” said Blake Silverman, president of The Silverman Group.
