201 Wilton Ave. in Middlesex Borough — Courtesy: Ridgecut Road
By Joshua Burd
Ridgecut Road has acquired a 3.1-acre industrial service and outdoor storage property in Middlesex Borough as part of a short-term sale-leaseback with an outgoing user.
The real estate investment firm said the parcel, 201 Wilton Ave., has a 22,000-square-foot building that accounts for 16.2 percent of the site. The fully paved and fenced property also has a metal canopy that is being used for storage, while offers prospective tenants quick access to the Interstate 287 submarket and destinations throughout the East Coast.
Ridgecut Road acquired the property from Straight Edge Striping, which provides striping and pavement markings as well as traffic safety signage for road work, airports, stadiums, parking lots, parking garages and warehouses, according to a news release. The seller leased it back at closing ahead of a plan to move to a nearby site that is currently under construction, having scaled its operations and outgrown 201 Wilton Ave.
Isaac Setton, Bunny Escava and Richard Ades at Kassin Sabbagh Realty brokered the off-market sale, while Justin Horowitz at Cooper Horowitz arranged the financing. Terms were not disclosed.
In announcing the deal, Ridgecut noted that the five-year-old building on the site has warehouse space with 24- to 28-foot clear ceiling heights and seven drive-in doors. It also has a lobby and reception area, ample office space, a sizeable conference room that can accommodate 60 people and a break room, all with high-end finishes.
