138 Georges Road in Dayton — Courtesy: Turnbridge Equities
By Joshua Burd
Turnbridge Equities has acquired more than 143,000 square feet of warehouse space in South Brunswick that it now plans to update with a roughly $4 million renovation.
According to a news release, the firm paid $23.75 million for the property at 138 Georges Road in the township’s Dayton section. Its plans call for building additional loading docks, replacing the roof and installing rooftop solar panels at the 143,280-square-foot facility, which includes a 41,000-square-foot addition that was completed in 2023.
Emanuel Westfried of Two Bins Capital arranged the sale, while New York-based Turnbridge has tapped NAI James E. Hanson’s Eric Demmers and Russell Verducci as its leasing team. Chris Murphy and Thomas Garlick of Murphy Schiller & Wilkes LLP acted as local land use and zoning counsel, providing analysis and support to the transactional team.
“As always, Turnbridge is focused on acquiring and repositioning well-located industrial assets across key U.S. logistics markets,” said Ryan Nelson, managing principal of Turnbridge, noting that the site is just off New Jersey Turnpike Exit 8A and provides easy access to additional highways such as Route 130 and Route 1.
“The property’s vacant delivery enables us to execute on our business plan immediately, bringing the building up to institutional standards and reintroducing it to the market at a time of persistent demand for modern warehouse space.”
The firm added that the building, which it acquired in foreclosure proceedings, has 14 dock-high loading doors, one drive-in door and clear heights ranging from 26 to 28 feet. It’s also within a one-hour drive of both New York City and Philadelphia, as well as Port Newark-Elizabeth and Newark Liberty International Airport, allowing it to reach more than 29 million consumers within a two-hour radius.
