8B — February 13 - 26, 2015 — New Jersey — M id A tlantic
Real Estate Journal
www.marejournal.com
C entral N ew J ersey
NGKF represents tenant in 52,291 square foot lease at 275 Pierce Street in Somerset Bussel Realty Corp. brokers sale of 99,000 s/f 62 Veronica Avenue in Somerset, New Jersey
S OMERSET, NJ — Bus- sel Realty Corp. (BRC) , a leading industrial real estate services firm in New Jersey, announced it has bro- kered in conjunction with Gramercy Real Estate Ser- vices the sale of 62 Veronica Ave. in Somerset, a 99,000 s/f distribution facility. The property was sold for an undisclosed amount to 62 Veronica LLC. The seller is SV Investments, which leased back a portion of the building long-term for its rug business. Bussel Realty Corp senior vice presidents Robert
Robert Sager
David Blitt
Jordan Metz
“The 62 Veronica Avenue sale was a complex transac- tion with several challenges, including the purchaser’s time constraints for closing the deal,” said Blitt.
Sager and David Blitt , and vice president Jordan Metz represented the owner in the transaction. The buyer was represented by Gramercy Real Estate Services.
62 Veronica Ave.
275 Pierce St. 62 Veronica Ave. was de- mised into a multi-tenanted property in order to accommo- date the lease back of space by the seller. The new owner will occupy the balance of the unoc- cupied space within the facility. Originally, the property was a single tenant owner-occupied distribution facility. 62 Ve- ronica Ave. sits on 6 acres and is minutes from Rte. 27, I-287 and the New Jersey Turnpike with access to the Outerbridge Crossing to Staten Island. Also in Somerset.. . Bussel Realty Corp. (BRC), announced Akorn Inc. has leased 52,291 s/f at 275 Pierce St. in Somerset, a 102,994 s/f industrial property. Ex- ecutive vice president Gregory Irving, SIOR , represented the landlord in the transac- tion. Newark Grubb Knight Frank represented the tenant. “275 Pierce Street provides Akorn a great location to man- ufacture and distribute its spe- cialty pharmaceutical products in the region and nationally,” said Irving. “As the nation’s “medicine chest,” New Jersey offers Akorn a great labor pool, R&D climate, and transporta- tion infrastructure for its busi- ness operations.” Built in 1988, 275 Pierce Street features 26’ clear ceiling heights, 43’ x 42’ column spac- ing, 10 exterior loading docks, 2 drive-ins, 800 amps electric power and 75 parking spaces. The property is just minutes from I-287 and the New Jersey Turnpike. n
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