NEW JERSEY—TA Associates Realty has purchased 65 Clyde Road in Somerset for $10.7 million. The 159,000-sq.-ft. industrial property was acquired from Cornerstone Real Estate Advisers.
Cushman & Wakefield’s Andrew Merin, David Bernhaut, Gary Gabriel and Kyle Schmidt of the firm’s Metropolitan Area Capital Markets Group in East Rutherford marketed 65 Clyde Road with industrial brokerage specialists Frank Caccavo, Jason Goldman, Marc Petrella and Andrew Siemsen, based in the firm’s Edison office.
Built in 1998 on a 10.5-acre site, the warehouse/flex building is fully leased to six tenants.
Its divisible and functional space serves warehouse/distribution, light manufacturing and laboratory uses.
The property includes a stone, glass and aluminum façade as well as 24-ft. clear ceilings, 40-ft. by 40-ft. column spacing and 24 truck doors.