Constitution Logistics Center at 10 Constitution Ave. in Piscataway — Courtesy: Rockefeller Group
By Joshua Burd
Rockefeller Group has sold a new 147,000-square-foot distribution center in Piscataway to Bridge Industrial, following its completion of the building earlier this year.
Known as Constitution Logistics Center, the facility at 10 Constitution Ave. is the sixth that Rockefeller has developed in the township in the past five years, according to a news release. It’s now a fresh addition to Bridge Industrial’s holdings in New York and New Jersey, which includes a growing acquisitions platform and a vast portfolio of buildings it developed.
Terms were not disclosed.
“We’d like to again thank the township of Piscataway for working with us so well on another project in the area and look forward to continuing our relationship with the town as we look for future projects,” said Heath Abramsohn, vice president and regional director for Rockefeller Group. “We would also like to thank Bridge Industrial, who was terrific to work with on this deal.”
Bridge’s portfolio in the region spans more than 14 million square feet across 35 buildings.
“We are excited to announce our purchase of 10 Constitution from the Rockefeller Group,” said Jeff Milanaik, Bridge Industrial’s Northeast region partner. “This acquisition is perfectly aligned with our business strategy to acquire quality industrial buildings in supply-constrained core markets.”
KBC Advisors’ Marc Petrella and Michael Kimmel represented Rockefeller Group in the transaction, which comes nearly 18 months after the firm acquired the 18-acre site from WS Audiology, previously the Sivantos Group. The developer then razed the 100,000-square foot office building that occupied the site to accommodate the new warehouse, with ARCO Construction serving as its general contractor.
In doing so, Rockefeller sought to capitalize on its location one mile from Interstate 287, which provides access to the New Jersey Turnpike and interstates 78 and 80. The facility, which is four miles from the firm’s earlier projects in Piscataway, has 36-foot clear ceiling heights, parking for 123 cars and 57 trailers, 41 loading docks and 3,000 square feet of move-in ready office space.
“The property has significant advantages — the combination of building size, ample trailer parking and dock-high loading will cater to a wide range of tenant requirements,” said Stefan Sansone, Bridge Industrial’s director of acquisitions in the Northeast. “It was a pleasure dealing with the team at Rockefeller, their professionalism and attention to detail allowed for a smooth transaction.”
