2 Gowin St. in Sayreville — Courtesy: Dalfen Industrial
(Editor’s note: This story was updated Wednesday, Aug. 28, with additional information and quotes from CBRE, which brokered the transaction.)
By Joshua Burd
A joint venture has acquired two industrial outdoor properties on the East Coast, including a nearly 1.3-acre site just off Route 9 in Sayreville.
The partnership, which includes Dalfen Industrial and Centerbridge Partners LP, paid $4.05 million in the off-market deal at 2 Gowin St. The firms noted that the 1.29-acre site is paved, lit and fenced with a roughly 8,000-square-foot fleet service building, providing quick access to the Garden State Parkway, the New Jersey Turnpike and other key destinations.
CBRE’s Mark Silverman, Elli Klapper, Liam McGregor and Jeremy Wernick represented Dalfen Industrial in direct negations with the seller, Florida-based Highpoint Enterprises.
“This fleet service building is a unique site, not only within the submarket, but within the broader IOS regional market,” said Keith Hontz, Dalfen Industrial’s market officer for the Northeast and Mid-Atlantic. “Its proximity to highway access and flexibility to service the New York City MSA provides an unmatched strategic advantage to current and prospective tenants.
“We are excited to continue to grow our presence in the New Jersey IOS market and intend to continue acquiring similar properties across the Northeast and Mid-Atlantic.”
Silverman added: “This property provided our client with a very rare opportunity to acquire a highly coveted IOS asset in one of the most active industrial markets in the country. Sayreville is a very attractive submarket for institutional industrial investors, and with this purchase Dalfen Industrial continues to grow its footprint in the industrial outdoor storage sector in the northeast through its partnership with Centerbridge.”
Dalfen and Centerbridge announced the deal in mid-August while also detailing their acquisition of a 3.9-acre storage yard in Maryland’s Prince George’s County.
“These unique acquisitions complement our existing portfolio of infill properties located in high-barrier-to-entry coastal markets,” said Mike Cohen, head of acquisitions at Dalfen Industrial. “As the criticality of IOS in the logistics ecosystem continues to grow, we are excited to offer additional properties catering to tenants needing these last-mile solutions.”
