4C — May 26 - June 8, 2017 — Industrial / Distribution Centers — M id A tlantic
Real Estate Journal
I ndustrial R eal E state & D istribution C enters Esses expedites securing $9.8 million Grow New Jersey Award for Carteret sale Metz and Skutelsky of Bussel Realty brokers sale of Fairfield Industrial Park in Freehold, NJ
reehold, NJ — Bussel Realty Corp. (BRC) arranged the sale of Fairfield Industrial Park, a nine-building indus- trial park totaling 165,000 s/f and located at 912 Rte. 33 in Freehold. Jordan Metz , senior VP, and Eduard Skutelsky , VP, of BRC represented an undis- closed seller in the transac- tion. The buyer, Fairfield In- dustrial Park LLC, purchased the property for $7.5 million and was represented by Impe- rial Real Estate . Fairfield Industrial Park is currently occupied by 20 ten- F
ants and the new owners plan- ning on making significant capital improvements to the industrial park. “The buyers were able to purchase a value- add portfolio with great poten-
tial for increasing its value to a 10-11 percent cap rate and make it an ideal modern site for tenants seeking quality industrial and office space,” said Metz.
922 Rte. 33
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400 Federal Blvd.
Fairfield Industrial Park offers tenants various size industrial and office spaces with loading docks, drive-ins, and parking in a park setting. Located off Rte. 33, Fairfield Industrial Park is proximate to Rte. 9 and 18, I-195 and the Garden State Parkway. Carteret, NJ — Bussel Realty Corp. arranged the sale of 400 Federal Blvd. in Cart- eret, New Jersey, a 55,560 s/f industrial property. Leo Esses , senior VP of BRC, represented an undis- closed buyer, which purchased the property for $5,142,500. The seller was 400 Federal Blvd., LLC. “I worked with my client for several years in order to locate the right property, in the right “limited” location, in order for them to qualify for a GrowNew Jersey award which was approved for their opera- tions,” said Esses. “They will be relocating from Brooklyn, New York, and are in close proximity to New York City via highways and mass trans- portation.” 400 Federal Blvd. is located near Exit 12 of the New Jer- sey Turnpike, Port Newark/ Elizabeth and Newark Liberty Airport. The property features 24-foot ceiling heights, two tailboards and two drive-in doors for loading, 800 amps of electric power, and 29 surface parking spaces. n
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