473 Ridge Road in South Brunswick — Courtesy: Cushman & Wakefield
By Joshua Burd
A clothing manufacturer has sold and leased back its nearly 320,000-square-foot distribution center in South Brunswick, in a deal arranged by Cushman & Wakefield.
The firm said it represented Central Mills Inc. in its sale of the building, 473 Ridge Road, to Saadia Group LLC. As part of the deal, C&W touted the potential for expansion on the 28-acre property.
The 318,389-square-foot facility includes 38,207 square feet of office space and sits just a few miles from Exit 8A of the New Jersey Turnpike.
“This well-positioned property and building offers unique accessibility to major markets, along with the possibility of expansion,” said Gary Gabriel of C&W’s East Rutherford-based investment sales team. He led the assignment with David W. Bernhaut and Andrew Merin, working with Brian Whitmer, Kyle Schmidt, Andrew Schwartz and Ryan Larkin, with the help of local leasing broker Chuck Fern.
Central Mills, a sportswear manufacturer doing business as FREEZE, will continue to occupy the facility under a long-term sale-leaseback arrangement, C&W said. The firm touted the building’s location some 45 miles southwest of Manhattan and 60 miles northeast of Philadelphia, which places nearly 60 million customers within a five-hour drive.
Features include clear height of up to 28 feet, with 20 trailer spaces and 582 spaces for automobiles, along with 25 exterior tailgates, six interior tailgates and a drive-in door.
“The e-commerce boom continues to spur demand among logistics and other last-mile delivery companies for space in the 8A industrial market,” Schmidt said. “This well-positioned location ensures easy access to the mass population around the New York Metro area and the inland distribution markets.”