600 Ridge Road in Piscataway — Courtesy: Duke Realty Corp.
By Joshua Burd
Duke Realty Corp. has announced its recent acquisition of a fully leased, 469,600-square-foot industrial building in Piscataway.
The property, which was completed in 2019, sits on 65 acres at 600 Ridge Road and is occupied by Kiss Nail Products Inc. With the transaction, the real estate investment trust has added to its portfolio in both New Jersey and the fast-growing submarket along Interstate 287.
Thomas Kirczow of NAI DiLeo-Bram & Co. represented the undisclosed seller. Duke Realty did not divulge the sale price.
“Warehouse and distribution space is tight across the country and here in New Jersey the most desirable space is along the I-287 corridor with access to millions of consumers and nearby ports,” said Art Makris, regional president of Duke Realty’s Northeast region. “We are always looking for these types of opportunities to add existing, yet modern, facilities to our portfolio. The added bonus is retaining an established tenant that we can now count as a customer.”
In announcing the deal, the REIT said 600 Ridge Road boasts 40-foot clear ceiling heights, 100 dock doors and a 130-foot truck court. The warehouse is two miles from I-287 and 12 miles from the New Jersey Turnpike, serving as Kiss’ distribution center for nail products, hair accessories and cosmetics that ship to retailers in more than 100 countries.
The deal, which closed late last year, brought the Duke’s New Jersey portfolio to 9.6 million square feet.
“Our acquisition strategy remains focused on infill, functional assets in high-barrier tier one markets and the acquisition of this modern distribution facility bolsters our best-in-class portfolio,” said Seth Hall, assistant vice president of acquisitions for Duke Realty. “We are continuously pursuing similar acquisition opportunities as we look to expand our footprint in northern New Jersey.”