34 Stouts Lane in South Brunswick — Courtesy: Avison Young
By Joshua Burd
SNS Real Estate Investment Group has acquired a vacant 84,000-square-foot industrial building in South Brunswick, in a newly announced deal by Avison Young.
The brokerage team represented seller NCH Corp. in the transaction at 34 Stouts Lane, noting that the property’s new owner will is making renovations to the building that it expects to complete during the current quarter. They’ll include complete interior demolition to create open floor space, new HVAC systems, upgraded LED lighting, new dock packages, slab grinding with epoxy coating and painting of the roof deck and walls to achieve a bright, white box finish.
Avison Young’s Tim Cadigan, Matthew Turse and John Gianis represented NCH alongside Mike McElwee of Hughes Marino and are now marketing the property for lease. Steve Gianis, also of Avison Young, represented SNS Real Estate Investment Group.
Terms were not disclosed.
“Our goal with this property is to partner with SNS Real Estate Investment Group to build a value lease option for tenants in central New Jersey, which aligns with their vision and strategy for the area market,” Cadigan said. “This is a great opportunity for a new tenant to occupy a functional asset with stable ownership and competitive market rates.”
AY noted that the New Jersey industrial market is stabilizing after a period of heightened activity, with asking rents declining by 6.3 percent year over year from peak levels to $15.16 per square foot, according to a news release. Leasing volume has risen by 2.21 percent year over year, reaching 33.7 million square feet in 2024, while more than 50 percent of new deliveries were preleased.
“Our investment approach centers on delivering high-utility space that aligns with the needs of growing businesses,” said Nate Mashini, a partner with SNS Real Estate Investment Group. “With strategic upgrades and the right tenant partnerships, we believe 34 Stouts Lane will quickly become a sought-after address for companies seeking growth in central New Jersey. By partnering with Avison Young’s market expertise and with the local government, will position this property for strong tenancy.”
