By Joshua Burd
A local owner has acquired a 12,000-square-foot industrial flex building in Somerset County, in a newly completed transaction by Newmark Associates.
Helene Elbaum, an executive vice president with the brokerage firm, represented both parties in the trade of 110 Woodfern Road in Branchburg. Its new owner will remodel the property for the manufacturing of personal protective equipment, including hand sanitizer and masks.
Terms were not disclosed.
“There are buyers out there looking for value-added properties in which they can renovate and call home to their business,” Elbaum said. “Ultimately, it was the level of urgency and velocity that was created between this particular buyer and seller that consummated the transaction. The buyer was a local owner of other warehouses in the area who needed it immediately and near his other locations.”
Built in 1974, the flex building is minutes from Route 206 and is part of a larger industrial condominium complex in the township’s Neshanic Station section. Elbaum noted that the sale closed in less than 30 days.
