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ROCKEFELLER SELLS PISCATAWAY WAREHOUSE TO BRIDGE INDUSTRIAL
Rockefeller Group has sold a new 147,000-square-foot distribution center in Piscataway to Bridge Industrial, following its completion of the building earlier this year.
Known as Constitution Logistics Center, the facility at 10 Constitution Ave. is the sixth that Rockefeller has developed in the township in the past five years, according to a news release. It’s now a fresh addition to Bridge Industrial’s holdings in New York and New Jersey, which includes a growing acquisitions platform
and a vast portfolio of buildings it developed.
Terms were not disclosed.
“We’d like to again thank the township of
Piscataway for
working with
as we look for future projects,” said Heath Abramsohn, vice president and regional director for Rockefeller Group. “We would also like to thank Bridge Industrial, who was terrific to work with on this deal.”
Bridge’s portfolio in the region spans more than 14 million square feet across 35 buildings.
“We are excited to announce our purchase of 10
Constitution
from the
Constitution Logistics Center at 10 Constitution Ave. in Piscataway
us so well on another project in the area and look forward
to continuing our relationship with the town
Heath Abramsohn
Rockefeller
Group,” said Jeff
Milanaik, Bridge
Industrial’s
Northeast region
partner. “This
acquisition is
perfectly aligned
with our business strategy to acquire quality industrial buildings in supply- constrained core markets.”
KBC Advisors’ Marc Petrella and Michael Kimmel represented Rockefeller Group in the transaction, which comes nearly 18 months after
the firm acquired the 18-acre site from WS Audiology, previously the Sivantos Group. The developer then razed the 100,000-square-foot office building that occupied the site to accommodate the new warehouse, with ARCO Construction serving as its general contractor.
In doing so, Rockefeller sought to capitalize on its location one mile from Interstate 287, which provides access to the New Jersey Turnpike and interstates 78 and 80. The facility, which is four miles from the firm’s earlier projects in Piscataway, has 36-foot clear ceiling heights, parking
for 123 cars and 57 trailers, 41 loading docks and 3,000 square feet of move- in-ready office space.
“The property has significant advantages — the combination of building size, ample trailer parking and dock-high loading will cater to a wide range of tenant requirements,” said Stefan Sansone, Bridge Industrial’s director of acquisitions in the Northeast. “It was a pleasure dealing with the team at Rockefeller, their professionalism and attention to detail allowed for a smooth transaction.” RE
Jeff Milanaik
TM 11
Courtesy: Rockefeller Group
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