By Joshua Burd
An investment firm has acquired a 160,000-square-foot light industrial building in Linden, with plans to upgrade the property in line with its value-add strategy.
The company, RHS Group, announced Friday that it has purchased 601 West Linden Ave., touting its location off Route 1 and 9 and proximity to the New Jersey Turnpike and Garden State Parkway. David Blitt of Bussel Realty Corp. and Joel Katz of Katz & Sterling Group brokered the transaction.
“Our plan is to upgrade and reposition the building as a high functioning multitenant warehouse, said Jordan Kolb, director of real estate for RHS Group. “Combined with the asset’s outstanding location, loading, parking and high ceilings … we expect to own one of the trophy assets in the neighborhood.”
The firm’s purchase of 601 West Linden Ave. follows its acquisition last year of 100 3rd Ave. in Kearny, a 100,000-square-foot industrial building.