201 11th St. in Piscataway — Courtesy: NAI DiLeo-Bram & Co.
By Joshua Burd
Two Middlesex County industrial buildings totaling 77,000 square feet have changed hands for a combined $15.45 million, in a set of newly announced deals by NAI DiLeo-Bram & Co.
In East Brunswick, a firm listed as Kings Cages sold a 32,000-square-foot property at 375 Old Bridge Turnpike for $7.25 million. NAIDB Sales Associate Kyle Gerace represented the seller and identified the buyer, Kinga Cabinet, noting that the roughly 52-year-old-building garnered a per-square-foot sale price of $227.
He added that the structure, which was built around 1971, sits on 1.6 acres just off Route 18 and has 12- to 16-foot clear ceiling heights and two exterior loading docks.
“Middlesex County is one of the largest and most sought-after commercial real estate markets in the country because it stands out as a major manufacturing and warehouse hub,” Gerace said. “As a result, well-located industrial investment properties have been and continue to command strong interest.”
In Piscataway, about 12 miles north via Route 18, Gerace and NAIDB sales associates Robert V. DiLeo and Mathew DiLeo represented Binsky Snyder in its sale of a 45,000-square-foot building at 201 11th St., according to a news release. They also identified the buyer, Transcontinental Steel, which paid $8.2 million for the single-story facility.
Sitting on almost five acres, the light industrial building comes with expansion potential and ample on-site paved parking, the news release said. It also has 12.6-foot clear ceiling heights and 20- by 40-foot column spacing, NAIDB said, adding that the structure divides into three 15,000-square-foot units and provides users with easy access to Route 22 and Interstate 287.