A newly traded portfolio in Linden includes industrial buildings at 1301 and 1401 West Blancke St. and an adjacent lot at 1312-1340 West Elizabeth Ave. — Courtesy: Cushman & Wakefield
By Joshua Burd
A logistics firm has purchased two industrial buildings and an adjacent outdoor storage lot in Linden for an undisclosed price, according to brokers with Cushman & Wakefield.
The investment sales team, which represented Hub Realty in the disposition, said the portfolio includes a 46,674-square-foot industrial building and a 26,602-square-foot industrial lab at 1301 and 1401 West Blancke St., along with the 2.1-acre laydown yard at 1312-1340 West Elizabeth Ave. The brokers also procured the buyer, Modlo, citing its location minutes from New Jersey Turnpike Exit 13 and its connectivity to Interstate 78 and routes 22, 1 and 9.
Cushman & Wakefield’s Gary Gabriel, Kyle Schmidt and Seth Zuidema completed the assignment.
“This portfolio is ideal for the diverse tenant base that calls Linden and the greater New Jersey port market home,” Schmidt said. “Functional building designs, a two-acre industrial outdoor storage (IOS) parcel and significantly below market leases made for a compelling opportunity.”
