2555 Kuser Road in Hamilton — Courtesy: CBRE
By Joshua Burd
An investment firm has added to its fast-growing portfolio in the state, acquiring a soon-to-be-completed industrial building in Hamilton for $29.6 million.
According to CBRE, which brokered the sale, Cohen Asset Management purchased the 145,950-square-foot project at 2555 Kuser Road from Scannell Properties. The buyer has also tapped CBRE as its leasing agent for the property, which has 67,365 square feet available.
Delivery of the building is slated for next month.
“The Kuser Industrial Center offered a unique opportunity to acquire a new Class A industrial property that benefits from superior highway access and an abundant available labor pool in a location equidistant from Port Newark, Port Elizabeth and the Port of Philadelphia,” CBRE’s Brian Fiumara said. He represented the seller alongside colleagues Michael Hines, Brad Ruppel and Lauren Dawicki.
CBRE’s Mindy Lissner, Robert Pine, Ben Shapiro, Dan McGovern and David Gheriani will lead the leasing efforts at the property, which is just off Interstate 95 and has easy access to the New Jersey Turnpike. The building will offer nine modern loading docks with the ability to add eight more, 2,000 square feet of office space, 36-foot ceilings, a 130-foot truck court and parking for 52 cars.
“High-quality industrial and logistics properties with the locational and functional attributes of Kuser Industrial Center play an even greater role in today’s supply chain, and we are excited to add this state-of-the-art logistics property to our growing New Jersey portfolio,” said Jason Haas, co-chief investment officer of Cohen Asset Management.