Middlebrook Crossroads on Chimney Rock Road in Bridgewater — File photo
By Joshua Burd
Thor Equities has made a major addition to its New Jersey industrial holdings, acquiring a portfolio of more than 580,000 square feet in Bridgewater for $111 million.
Known as Middlebrook Crossroads, the 18-building complex occupies 38.6 acres on Chimney Rock Road between Route 22 and Interstate 287. That has made it an attractive location for UPS, Lexus and other longtime tenants, as well as a target for investors in recent years.
Thor’s acquisition comes just under three years after a group led by Lovett Industrial purchased the 580,227-square-foot complex. Cushman & Wakefield brokered that transaction and was also the listing team in the most recent sale of the portfolio, with the firm’s Gary Gabriel, Kyle Schmidt, Ryan Larkin, Seth Zuidema and Bill Baunach leading the assignment.
A representative for Thor, which is based in Manhattan, declined to comment. The company’s other industrial holdings in New Jersey include a 111,500-square-foot facility at 556-600 Progress St. in Elizabeth, a 330,000-square-foot warehouse at 153 Linden St. in Passaic and others.
Houston-based firm, capital partner buy 580,000 sq. ft. Bridgewater industrial park
