594 Jersey Ave. in New Brunswick — Courtesy: Bussel Realty Corp.
By Joshua Burd
A private partnership has sold a nearly 70,000-square-foot industrial building in New Brunswick, in a newly announced transaction by Bussel Realty Corp.
The brokerage firm said the buyer, VHF 594 LLC, paid an undisclosed sum for the property at 594 Jersey Ave. The asset is a 69,300-square-foot structure near routes 1 and 130 and the New Jersey Turnpike, with 14- to 25-foot ceiling heights, nine tailboards and three van-high doors.
BRC President Steve Bussel managed the partnership and represented the seller. Leo Esses, a senior vice president with the Edison-based brokerage firm, represented the buyer alongside KSR Real Estate.
“In this very tight industrial market, where demand clearly exceeds supply, we were able to further our client’s business interests in the purchase of 594 Jersey Avenue, with its ideal location near major highways including the New Jersey Turnpike,” Esses said.
BRC noted that the building qualifies for special tax treatment under both the state Urban Enterprise Zone and federal Opportunity Zone programs.