100 Crows Mill Road in Keasbey — Courtesy: CBRE
By Joshua Burd
An investment group based in Los Angeles has acquired a 133,032-square-foot industrial building in Woodbridge, in an $18.6 million deal arranged by CBRE.
Brokers with the firm announced Tuesday that Seville Gateway Investments LLC had closed on its purchase of 100 Crows Mill Road, which sits in the township’s Keasbey section. The CBRE team of William Waxman, Mindy Lissner, Steven I. Beyda and Robert Pine represented the seller, TA Realty, while CBRE Vice President Dorothy Chuang represented the buyer.
“Originally only available for lease, we were able to negotiate an off-market sale that closed in record time,” Waxman said. “Located in Los Angeles, Seville Gateway was interested in a facility in the New Jersey area that was in close proximity to the Port to better service its Northeast operations.
“100 Crows Mill Road offers the new ownership truly unparalleled access to all the local waterways and airports, as well as an excellent labor pool.”
Built in 1971, 100 Crows Mill Road sits at the crossroads of the New Jersey Turnpike, Route 440, Interstate 287, Route 1/9, Route 35 and the Garden State Parkway, CBRE said in a news release. The property was recently renovated and offers on-site trailer parking, LED lighting and access to one of the most affluent consumer markets in the region.
CBRE also touted its proximity to local FedEx and UPS hubs, hotels, restaurants, child care facilities, sports parks and the New Jersey Convention & Exposition Center in Edison.
