1200 Springfield Road in Union Township — Courtesy: Bussel Realty Corp.
By Joshua Burd
Ridgecut Road has acquired a nearly five-acre industrial outdoor storage property in Union Township that it’s now marketing to prospective tenants.
The parcel, 1200 Springfield Road, has an 18,500-square-foot maintenance facility with five drive-in doors and a 16-foot clear ceiling height, according to the landlord. It’s also recently renovated with updates such as a new technology-enabled motorized gate with security features and fencing, upgraded landscaping and a new roof with a 20-year warranty.
Other enhancements include epoxy flooring in the shop, upgraded lighting throughout the building and site and modernized office space with new HVAC systems, Ridgecut Road said, making it immediately functional for a wide range of users. The firm is marketing the site for lease alongside Jordan Metz, Benito Abbate and James Friel of Bussel Realty Corp.
Metz also arranged the sale, while JLL’s Michael Klein and Max Custer arranged acquisition financing.
“We are thrilled to add 1200 Springfield Road to Ridgecut Road’s dynamic portfolio of low-coverage industrial assets across New Jersey,” said Scott Shalek, a principal at Ridgecut Road. “The site is immediately functional, well-located and right-sized for industrial operators with strong balance sheets. It sits at the heart of New Jersey’s most active logistics corridor and distribution network.”
Located less than a mile from the Garden State Parkway and Route 22 and two miles from Interstate 78, the 4.8-acre property is a 15-minute drive from Port Newark-Elizabeth and well-connected to the region’s most critical logistics infrastructure, according to a news release. Ridgecut Road noted that the site accommodates the full spectrum of industrial and IOS tenants, including trucking, drayage and freight and container and material storage, as well as equipment rental and sales, ecommerce, fleet service and maintenance and contractors, among others.
In a separate news release, the Metz team said it represented the previous owner, RCG Realty LLC, in the $21.7 million sale as part of a tax-deferred Section 1031 exchange. BRC also coordinated the acquisition of two replacement properties — a six-acre industrial outdoor storage site at 740 Lloyd Road in Aberdeen and a 7,000-square-foot warehouse at 150 West First Ave. in Roselle.
The building at the Union property consists of a 9,500-square-foot maintenance shop, a 2,500-square-foot machine shop, 5,500 square feet of first-floor office space and 750 square feet of second-floor office space, BRC said. Other features include a server room with WiFi and camera infrastructure and a new 14-foot glass overhead door.
“Opportunities to lease institutional-quality IOS facilities of this caliber are exceptionally limited in northern New Jersey,” said Metz, a principal with the Edison-based firm. “1200 Springfield Road offers everything today’s IOS users are looking for, including fully improved outdoor storage, a modern service facility, extensive security and technology upgrades and immediate access to the Port Newark-Elizabeth complex and the region’s major transportation corridors. These features make the property an ideal solution for transportation providers, logistics operators, commercial fleet owners, equipment service businesses and other industrial occupiers seeking a turnkey location in one of the country’s most supply-constrained IOS markets.”
