200 St. Nicholas Ave. in South Plainfield — Courtesy: NAI James E. Hanson
By Joshua Burd
Ridgecut Road has acquired a nearly eight-acre industrial outdoor storage property in South Plainfield, in a $37 million deal arranged by NAI James E. Hanson.
According to the brokerage team, the site at 200 St. Nicholas Ave. includes two buildings totaling 30,069 square feet and just minutes from Interstate 287. It’s now the latest addition to Ridgecut Road’s fast-growing portfolio of low-coverage industrial assets, one that comes alongside a short-term license agreement with the seller, JESCO Equipment.
NAI Hanson senior managing directors Jordan Avanzato and Christopher D. Todd and Managing Director William Ericksen, part of the firm’s institutional services group, represented the buyer of the 7.81-acre property. Cushman & Wakefield equity, debt and structured finance brokers John Alascio, TJ Sullivan and Chris Meloni sourced acquisition financing on Ridgecut Road’s behalf.
“IOS continues to be a critical component of the industrial market, especially for logistics and distribution users that rely on well-located, functional sites to support their operations,” Avanzato said. “The combination of location, usability and long-term optionality made this a highly compelling acquisition.”
Todd added: “Infill IOS supply in New Jersey is exceptionally constrained, which continues to fuel competition among buyers looking to scale their portfolios. We’re pleased to have helped our client secure a highly sought-after asset in one of the most competitive IOS markets nationwide.”
Founded in 2021, Ridgecut Road is a real estate investment firm focused on owning and operating low-coverage industrial assets and developing Class A warehouse, distribution and logistics facilities in New York and New Jersey, NAI Hanson noted in a news release. JESCO Equipment, for its part, is a leading construction and forestry equipment dealer serving the Northeast and Mid-Atlantic regions and is the sole authorized John Deere Construction & Forestry Equipment dealer for New Jersey, New York, Delaware and the Hudson Valley, carrying equipment from brands including Wirtgen, Hamm, Kleemann and Vogele.
In a separate news release, Cushman said a global financial institution provided both the equity and debt financing for the acquisition.
“This transaction underscores the early 2026 theme of immense capital appetite for well-located industrial outdoor storage sites in infill markets,” said Sullivan, an executive director at Cushman. “Ridgecut Road has had tremendous success executing value-add business plans in the tristate market over the last few years. 200 Saint Nicholas’s rare scale, access and flexibility, combined with Ridgecut Road’s institutional track record, created a compelling opportunity.”
The firms added that the site has features an optimally configured, fully fenced perimeter with dual access points to accommodate potential multi-tenanting, along with robust infrastructure. This includes a 20,000-square-foot maintenance facility equipped with nine oversized drive-in doors and a secondary 10,000-square-foot maintenance facility with three oversized drive-in doors.
“Ridgecut Road is excited to add this Class A IOS property to our portfolio and kick off a new institutional relationship,” said Scott Shalek, a principal at Ridgecut Road. “The asset is well-positioned offering functionality and utility in the heart of New Jersey’s industrial ecosystem which serves as the backbone for future industrial service and heavy industrial operators seeking access to critical infrastructure nearby Port Newark, NYC Metro and the entire Northeast / I-95 corridor.”
The operator also noted that the NAI Hanson team will lead leasing efforts at the property.
“The property is all-encompassing and will be enticing to the full spectrum of IOS users seeking unmatched quality and scale, a large well-shaped storage yard for wide-ranging industrial uses and exceptional flow throughout,” said Eric Shalek, also a principal at Ridgecut. “The full-service maintenance facilities include five-ton overhead cranes, generous clear height with oversized drive-in capability across two buildings, heavy power, a wash area and office / conference space offering an HQ environment.”
“TJ Sullivan and the C&W team were instrumental in the financing efforts and leading the charge on this new partnership which is a testament to the work we have accomplished together over the years.”
