80 Executive Ave. in Edison — Courtesy: NAI DiLeo-Bram & Co.
By Joshua Burd
A developer has sold more than 50,000 square feet of modern industrial space in Edison for $18.2 million, brokers with NAI DiLeo-Bram & Co. announced Tuesday.
The facility, located at 80 Executive Ave., changed hands in a deal that comes six years after Menlo Executive Associates I LLC completed the project just east of the New Jersey Turnpike. NAIDB represented the buyer, Fujipoly America LLC, citing the appeal of the property’s highway access and connectivity to the New York metropolitan area.
“This property drew significant interest from our client from the outset due to its prime location within one of central New Jersey’s most established business corridors,” said Robert J. DiLeo, a principal with the brokerage firm. “With a limited supply of Class A industrial buildings available for sale in this size category, Fujipoly America secured a strategic asset for their future. The company intends to invest millions of dollars into the site, transforming the facility into its U.S. corporate headquarters.”
The NAIDB team involved in the deal included DiLeo, Vice President Kyle Gerace, Associate Vice President Robert V. DiLeo and Vice President Chris Chiusolo. They noted that the 50,400-square-foot building has 32-foot clear ceiling heights, 50- by 50-foot column spacing, modern sprinklers and heavy power, along with 3,000 square feet of first-floor office space and a 3,000-square-foot mezzanine.
The warehouse also has high-velocity loading capability supported by five dock doors, which are expandable to eight, and one drive-in, the news release said. What’s more, the site has parking for more than 25 cars and six trailers.
Located in a region with over $5.8 trillion in economic output, 80 Executive Ave. provides users with access to more than 38 million consumers within a two-hour drive, NAIDB added. The New Jersey Turnpike and the Outerbridge Crossing are four and 10 miles away, respectively.
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