379 County Road in Aberdeen — Courtesy: Ridgecut Road
By Joshua Burd
Real estate investment firm Ridgecut Road has added to its fast-growing portfolio, acquiring a 3.4-acre industrial property in Monmouth County under a joint venture with Luzern Associates.
The partnership paid an undisclosed price for the parcel at 379 County Road in Aberdeen, which includes a 9,000-square-foot maintenance facility with eight drive-ins and a paint spray booth. Ridgecut noted the site had been owner-operated by a commercial truck repair business since the early 2000s, while brokers Doug Bansbach and Linda Hill are now marketing it for lease.
Located about a half-mile from Route 35, the property is well-positioned to capture tenant demand flowing out from Port Newark-Elizabeth and pushing north from New Jersey Turnpike Exit 8A, Ridgecut said, adding that it can also service the Exit 9 submarket and its nearly 8 million square feet of high-end warehouse space currently under development.
Justin Horowitz at Cooper Horowitz arranged financing for the acquisition through BEB Capital.
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