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Whitehall gains momentum with N.J. portfolio acquisition

Edison, N.J.-based Whitehall Industrial Properties continues to ramp up with the acquisition of a 12-building, 650,000 sq. ft. portfolio.

An affiliate of New York-based Goldman Sachs & Co., Whitehall acquired the Carlstadt, N.J., portfolio, which is located in the Meadowlands submarket, from a private investment group. Terms of the transaction were not disclosed. Hasbruck Heights, N.J.-based SBWE represented Whitehall.

With the transaction, Whitehall also acquired 30 acres with development potential for up to 425,000 sq. ft. in four buildings. The company plans to develop a 350,000 sq. ft. building upon attaining local approval.

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