22 Brickyard Road in Cranbury — Courtesy: Deugen Investment Group
By Joshua Burd
Deugen Investment Group has acquired a 16.1-acre, low-coverage industrial outdoor storage property in Cranbury, the firm announced this week.
In a news release, the company said the parcel at 22 Brickyard Road includes warehouses of 16,015 and 7,250 square feet, boasting a location just west of the New Jersey Turnpike and less than a mile from Route 130. That gives users easy access to the area’s major highways to New York City and Philadelphia.
Carly Kilroy of Curran Commercial represented Deugen in the off-market acquisition and will manage leasing activities for the property, the news release said. Murphy Schiller & Wilkes LLP and Commonwealth Land Title Insurance Co. handled legal and transactional services, while BEB Capital provided acquisition financing.
Terms were not disclosed.
“We are excited to expand our portfolio with this IOS acquisition in the Exit 8A market, one of the most sought-after institutional submarkets in New Jersey,” said Eric Gormeley, CEO of Deugen Investment Group. “This aligns perfectly with our investment thesis of targeting properties in prime locations with significant barriers to entry. The scarcity of well-located IOS assets in this corridor, combined with the property’s proximity to major transportation infrastructure, provides exceptional value-creation opportunities.”
