80 Essex Ave. in Avenel — Courtesy: Lee & Associates
By Joshua Burd
An investment firm has acquired an 81,000-square-foot warehouse in the Avenel section of Woodbridge, under a newly announced transaction by Lee & Associates.
Brokers with the firm represented the seller and the buyer, TA Realty, in the deal at 80 Essex Ave. Located near Exit 12 of the New Jersey Turnpike, the property has undergone a series of upgrades recently and is now slated for additional improvements under its new ownership.
The Lee & Associates New Jersey team included Crista Governara, Drew Maffey and Rick Marchisio. TA Realty, which is based in Boston, has also retained the real estate services firm to market the property for lease for a late summer or early fall delivery.
“This first class industrial facility is well-suited for the operations of an e-commerce/last mile delivery company like Amazon or a national transport company like Fed-Ex or DHL,” said Governara, a vice president and partner in Lee & Associates’ Edison office. “80 Essex Avenue East has proximity to local ports and airports, and access to more than a third of the US population within a day’s drive.”
The building, which sits on 4.28 acres, includes 7,557 square feet of office space, 26-foot clear ceiling height, 11 loading dock doors and ample car and truck parking, according to a news release. Lee & Associates touted the site’s access to the Turnpike, Route 440, the Goethals Bridge, Route 1 & 9 and the Garden State Parkway, along with its proximity to Port Newark-Elizabeth.
Recent property upgrades include a new roof and HVAC in the offices.
“Additional upgrades are planned, including new paving and truck court,” Maffey said.