By Joshua Burd
The Silverman Group has acquired a 41,000-square-foot warehouse and office building in the Somerset section of Franklin, in a $3.6 million deal arranged by JLL.
In a news release, the real estate services firm said it represented both parties in the sale of 21 Worlds Fair Drive. The seller was a current tenant, which JLL did not identify.
JLL Managing Director Chad Hillyer, Executive Vice President Brian Golden and Senior Associate Tyler Baker completed the sale. The group will also serve as leasing agents for the building.
“This was a unique opportunity for The Silverman Group,” Hillyer said. “The market for New Jersey industrial real estate has appreciated greatly, and Silverman was able to leverage its ability to execute on a tight time frame, to acquire a valuable asset as well as expand their growing industrial portfolio.
“Silverman is now looking to lease 21 Worlds Fair Drive to one or two tenants. The property is ideal for warehouse and distribution and light manufacturing, and the office space has high-end finishes.
JLL said the office portion totals some 11,215 square feet, while the warehouse potion offers an 18-foot ceiling height, 30-foot-by-30-foot column spacing, five loading docks and one drive-in door.
“We are very excited about this recent acquisition and look forward to working with the JLL team on this assignment,” said Toby Nelson, vice president of leasing for The Silverman Group.