51 New Brunswick Ave. in Woodbridge — Courtesy: Woodmont Industrial Partners
By Joshua Burd
Woodmont Industrial Partners has sold more than 54,000 square feet of newly built industrial space in Woodbridge to Sagard Real Estate, in a deal arranged by Newmark.
The property, 51 New Brunswick Ave., changed hands in what was the latest transaction involving firms that have partnered in both investment sales and ground-up development. And the sale comes roughly three years after Woodmont delivered the 54,113-square-foot facility, which serves as a key operational hub and Northeast headquarters for R.A.S. Logistics under a full-building lease.
Newmark’s Brian Schulz, Steven Beyda and Kevin Welsh brokered the sale. Terms were not disclosed.
“Our focus is to deliver high-quality logistics facilities in markets where demand for modern industrial space remains strong,” said Anthony Amadeo, executive vice president at Fairfield-based Woodmont. “It was a pleasure to work with the town throughout the redevelopment process and to see this site get repurposed into a modern facility. Properties like 51 New Brunswick Ave that have direct access to port infrastructure and major transportation corridors continue to attract strong interest, and this submarket offers exceptional connectivity that supports distribution throughout the Northeast. This was evident by strong market activity and a quick lease signing at (certificate of occupancy).”
Located in Woodbridge’s Hopelawn section, the facility is a short drive from Port Newark-Elizabeth, the New Jersey Turnpike, the Garden State Parkway, Route 9 and Route 440, Woodmont said. The property has 32-foot clear ceiling heights, seven exterior dock doors, one drive-in door and 2,300 square feet of office space designed for modern distribution and last-mile users.
“51 New Brunswick Avenue offers the location and functionality we seek in high-quality infill industrial investments,” said Belah Terentjev, Sagard’s director of acquisitions in the Northeast. “Woodmont’s high-caliber execution, coupled with the property’ strategic location and strong tenant profile make it a compelling long-term investment, and we believe it will remain highly attractive to both users and capital in the years ahead.”
The deal follows Woodmont’s recent delivery of a 152,100-square-foot industrial property in South Amboy and the start of an office-to-industrial redevelopment project on a 30.6-acre site in the Somerset section of Franklin Township.
Woodmont, logistics firm ink 54,000 sq. ft. lease at new Woodbridge industrial building
