2B — March 2023 — New Jersey — M id A tlantic Real Estate Journal
www.marej.com
N ew J ersey
FULL SERVICE COMMERCIAL REAL ESTATE ADVISORY & PROPERTY MANAGEMENT FIRM
BlackRock Realty Advisors acquires 330 S. Randolphville Rd. Lee & Associates inks two Middlesex County ind. deals P
ISCATAWAY/SOUTH PLAINFIELD, NJ — Lee & Associates New Jersey has arranged two industrial transactions in Middlesex County, reflecting sustained dealmaking velocity in the regional marketplace. In Piscataway, BlackRock Realty Advisors acquired 330 S. Randolphville Rd. for $80 million. In South Plain- field, a logistics firm signed a 189,000 s/f, full-building lease at 602 New Market Ave. Matthew Schnurr of the commercial real estate firm’s Capital Markets team rep-
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330 S. Randolphville Rd.
For more information, visit WolfCRE.com or call 856-857-6300. Building Successful Relationships TM
resented BlackRock in its investment acquisition. The nearly 300,000 s/f S. Randol- phville Road complex is fully
occupied by General Plumbing Supply, Inc. “BlackRock was drawn to the investment by the ideal location with proximity to the Ports, immediate interchange access, and a long-term lease involving a mission-critical corporate headquarters, show- room and distribution space operation,” Schnurr said. “It was a pleasure working with the BlackRock team, whose members were keenly aware of the unique investment and property attributes. The New Jersey industrial investment market as a whole remains one of the most sought-after nationwide, in terms of high occupancy, sustained rental growth and limited supply.” In South Plainfield, Drew Maffey and Rick Marchisio represented the logistics ten- ant in its full-building lease at 602 New Market Ave. Col- liers represented the landlord, Bridge Development . Situ- ated on nearly 21 acres, the modern, energy-efficient build- ing features 70 trailer spots, 36-foot clear ceiling height, and 40 exterior docks. MAREJ
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S ection P ublishers Linda Christman lchristman@marejournal.com
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Ken Wellar, Managing Partner Corey Lonberger, Managing Partner Mark Duszak, Director Luke DeLuca, Vice President Bob DiPasquale, Vice President Alan Krawitz, Senior Associate Isela Lares, Senior Associate
Kyle McShane, Associate Austin McDevitt, Associate Daniel Yadgaroff, Associate Brian Gola, Associate Jeffrey Goldstein - NY BOR 9110168, NJ BOR 9110168, CT BOR REB0267956 Domenick Peronti - DE BOR RB0020193
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