B&D Holdings has acquired Brunswick Industrial Campus, a six-building, 206,069-square-foot property in New Brunswick, N.J. The corporate obtained a fixed-rate, $23.3 million acquisition mortgage in a deal organized by JLL. CommercialEdge recognized the earlier proprietor as Improvement Administration Companies.
DMS had bought the property in 2021 for $15.5 million from The Goldstone Group, CommercialEdge data reveals. At the moment, the campus—a four-building, 142,000-square-foot mixed-use property—comprised areas with totally different makes use of, together with workplace, medical workplace and industrial.
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In-built 1955, the property options 19- to 30-foot clear heights, 14 dock doorways and 15 drive-ins, amongst others. Following the acquisition, DMS expanded the campus with the addition of two new warehouses and repurposed a number of the current services.
Positioned at 1460 Livingston Ave. throughout roughly 21 acres, Brunswick Industrial Campus is lower than 1 mile from U.S. Route 1, in addition to some 3 and 6 miles from U.S. Route 130 and Interstate 95, respectively. The Newark Port and Worldwide Airport function lower than 30 miles northeast.
JLL Director Max Custer alongside Managing Director Thomas Didio Jr. and Senior Analyst Benjamin Morgenthal led the Debt Advisory workforce that organized the financing on behalf of B&D Holdings.
Since its inception in 2008, B&D Holdings’ portfolio grew to greater than 235 properties encompassing upward of 8.5 million sq. toes all through the U.S. Industrial house makes up roughly 65 p.c of the corporate’s footprint.
In March, B&D expanded its Mid-Atlantic industrial portfolio with the acquisition of a virtually 400,000-square-foot industrial campus in Chesapeake, Va. Hyperlink Logistics offered the asset.
Industrial New Jersey costs outperform the nationwide common
Regardless of having an industrial emptiness price of seven.1 p.c as of June, New Jersey’s industrial asking rental charges soared by 9.6 p.c year-over-year by way of June, in response to a current CommercialEdge report.
All through New Jersey, traders traded $1.06 billion year-to-date by way of June with a mean worth per sq. foot of $256—outperforming the nationwide common worth per sq. foot of $139 throughout the identical interval, the report reveals.
In one of many early 2024 transactions, Invesco Actual Property acquired 152 Ridge Highway, a 216,000-square-foot industrial asset in South Brunswick Township, N.J., for $55 million. The constructing was totally leased on the time of sale.
