152 Ridge Road in South Brunswick — Courtesy: JLL
By Joshua Burd
Invesco Real Estate has acquired a 216,000-square-foot warehouse in South Brunswick, in a newly announced deal by JLL.
The brokerage team, which represented the undisclosed seller, said the property at 152 Ridge Road is fully leased to a third-party logistics company that provides coast-to-coast less-than-truckload, full truckload and intermodal services. Built in 1991, the cross-docked facility has 33 loading doors and 30-foot clear ceiling heights.
JLL managing directors Jordan Avanzato and Marc Duval, directors Nicholas Stefans and Jason Lundy, Senior Managing Director Jose Cruz and Associate Conor Walsh arranged the sale. Terms were not disclosed.
“We have seen no shortage in demand for well-located, quality real estate in New Jersey,” Avanzato said. “The Exit 8A market has long been one of the strongest-performing markets in New Jersey and continues to see rent growth and staggering absorption rates.”
Duval added: “The industrial market in New Jersey has been a strong performer despite the headwinds over the past year and we are seeing the re-emergence of institutional capital to verify it.”
