NEW JERSEY—An undisclosed buyer has paid $4.6 million for 475 Jersey Ave., a 185,000-sq.-ft. multi-tenanted industrial facility in New Brunswick, N.J. Bussel Realty Corp.’s (BRC) Earl Lapides, SVP, represented the owner, Don Gatarz, in the transaction.
“As a fully-occupied, functional industrial facility, 475 Jersey Avenue was an ideal investment for this buyer who was seeking an equity presence in the lucrative New Jersey industrial market,” said Lapides. “We are delighted to have arranged this sale on behalf of our client and know the property represents an outstanding investment for our buyer.”
Sitting on 14 acres, 475 Jersey Ave. includes high ceilings, dry sprinklers, eight bridge cranes and rail service off a Conrail main rail line. The property is located in close proximity to Routes 1 and 18 and the New Jersey Turnpike.