536 Fayette St. in Perth Amboy — Courtesy: HFF
By Joshua Burd
A real estate investment trust has acquired a 260,046-square-foot, triple net leased Preferred Freezer Services facility in Perth Amboy, brokers with HFF said Monday.
The firm announced the sale of 536 Fayette St. after marketing the complex on behalf of the seller. Broadstone Net Lease Inc. acquired the building, which is Preferred Freezer’s original location, for an undisclosed price.
HFF senior managing directors Scott Pertel and Jose Cruz and directors Jordan Avanzato and Marc Duval handled the assignment, touting its 10 million cubic feet of freezer capacity with 24 loading doors and clear heights ranging from 28 to 42 feet.
“Investors responded very favorably to this offering given the uniqueness of the asset and the property’s superb location,” Cruz said.
Opened in 1989 as Preferred Freezer’s original location, 536 Fayette continues to be a critical facility for the company’s national operations, HFF said. It also is the company’s only facility in the U.S. with a “super freezer” with temperatures of negative 60 degrees Celsius and the only facility in the U.S. to have an on-site parts depot, where spare parts are kept and maintained to be sent to other facilities around the country on short notice.
HFF also cited its easy access to the New Jersey Turnpike, Interstate 287, the Garden State Parkway and routes 1, 9 and 35.