00 Harmich Road in South Plainfield — Courtesy: NAI DiLeo-Bram & Co.
By Joshua Burd
A private investor has sold a 2.2-acre industrial outdoor storage parcel in South Plainfield, brokers with NAI DiLeo-Bram & Co. announced Thursday.
The buyer, Genesis LLC, paid an undisclosed sum in the transaction at 00 Harmich Road and in one of the state’s tightest submarkets for the asset class. To complete the deal, NAIDB brokers Christopher Chiusolo and Kyle Gerace structured what they described as a customized financial arrangement that accommodated the sellers’ financial requirements while allowing the new owner to seamlessly integrate the asset into its portfolio.
“IOS space is at an absolute premium in the South Plainfield submarket right now,” Gerace said. “Because land zoned for IOS is incredibly scarce, we recognized the immense value of this parcel. Our priority was creating a tailored transaction framework that directly honored our client’s unique, long-term financial objectives.”
The brokers, both vice presidents with NAIDB, represented the seller and secured the buyer in a sale that took place over just seven weeks, according to a news release. They noted that the Harmich Road property offers an exceptional location for industrial and logistical operations within Middlesex County, touting its position in a premier transportation corridor with strong connectivity to major shipping routes and commercial hubs.
Those routes include Interstate 287, which runs northward to New York State and southward to the New Jersey Turnpike, as well as routes 22 and 1. That provides multiple means of accessing Port Newark-Elizabeth and the broader East Coast industrial corridor.
“Completing a transaction of this complexity within a seven-week window requires total alignment and accelerated execution,” Chiusolo said. “We also proactively navigated the tenant’s future renewal options, to secure a streamlined, mutually beneficial outcome in an exceptionally tight market.”
