100 Market St. in Kenilworth — Courtesy: The Blau & Berg Co.
By Joshua Burd
Public Service Electric & Gas has acquired two adjacent properties in Kenilworth that will allow it to expand its electrical grid, brokers The Blau & Berg Co. announced Monday.
In a news release, the brokerage team said the parcels at 80 and 100 Market St. are home to industrial buildings of 25,000 and 10,000 square feet, respectively. Both are earmarked for demolition, the firm said, noting that PSEG will use the location to eventually add to an existing substation.
Blau & Berg senior directors Tamara Blau and Brad Jacobs represented the undisclosed seller.
“It’s not often you see warehouses getting demolished in the Northeast,” Jacobs said. “However, for this transaction, the ability to expand and better support their customers was a true power play for PSEG.”
