20 Harmich Road in South Plainfield — Courtesy: Marcus Partners
By Tina Traster
Boston-based Marcus Partners has acquired a two-building, 200,000-square-foot warehouse property on 17 acres in South Plainfield.
According to the investment firm, the two buildings at 20 Harmich Road offer 26- to 28-foot clear ceiling heights, parking, market loading ratios and outdoor storage. The site is located about three miles from Interstate 287.
“20 Harmich Road is a highly desirable high-quality product with an abundance of (industrial outdoor storage) close to the port and is a valuable addition to our growing New Jersey portfolio,” said Todd Minerley, a senior vice president at Marcus Partners. “This acquisition provides immediate cash flow, solid tenants and a value-add component — and aligns well with our existing properties from Boston to Washington D.C.
“Demand remains very strong for high ceiling, functional warehouse space and additional outside storage capacity makes this property very attractive to the marketplace. Our ability to close the deal in a challenging market is an enormous advantage in times of uncertainty.”
Crista Governara and Drew Maffey of Lee & Associates New Jersey represented Marcus Partners in the transaction, the terms of which were not disclosed.
Tina Traster is a freelance writer and the editor of Rockland County Business Journal. She is also a former business writer for Crain’s New York Business, real estate writer for the New York Post and staffer at the Bergen Record.