12B — April 22 - May 19, 2022 — New Jersey/Pennsylvania — M id A tlantic Real Estate Journal
www.marej.com
N ew J ersey /P ennsylvania
Landlord, Heller Industrial Park brokers 92,140 s/f inhouse Bussel Realty Corp. represents Taylored/FMI in expansion of 92,140 s/f
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FMI in the transaction. The landlord, Heller Industrial Parks, was represented in- house. Bussel noted that “after a broad search in a New Jersey industrial marketplace where there are few available spaces, we located and closed a deal that best-positions Taylored/ FMI’s business expansion.” LINDEN, NJ — Bussel Realty Corp. (BRC) , a lead- ing industrial/retail real estate services firm in New Jersey, today announced it sold 1301 West Elizabeth Ave. in Lin- den, a 138,000 s/f industrial building, for $15 million. Steve Bussel , president, and Gregory Irving , ex- ecutive vice president, of BRC represented the seller, JRT Realty , in the transaction. The buyer, Gold Tree Man- agement, was represented by Jordan Metz , senior vice president, of BRC. “It was a pleasure to work with our long-time client, JRT Realty, in the sale of this well- located industrial property,” noted Bussel. “With New Jer- sey’s sub-two percent industri- al availability rate and rents climbing to never-seen-before double digits in submarkets near the ports, New York City, and Newark Liberty Airport, industrial properties are trad- ing at record high prices.” “This was a true value-add play; our buyer, a long term client, recognized the oppor- tunity and acted quickly and decisively to acquire it,” noted Metz. “This multi-tenant in- dustrial facility is superbly located with immediate access to major highways, has ceiling heights up to 24 feet, and is outfitted with loading docks and grade level doors. Our buyer will be making various improvements to the site and will capture huge upside with expiring leases coming due soon, as market rental rates continue to soar. We look for- ward to quickly leasing up the renovated spaces.” 1301West Elizabeth Avenue is a multi-tenanted industrial property in close proximity to the New Jersey Tpke., Rte. 1-9, I-78, Goethals Bridge as well as Port Newark/Elizabeth and Newark Liberty Airport. The property features 16- to 22-foot ceiling heights, five tailboards, wet sprinklers, and 800 to 2,000 amps of electric power. MAREJ
DISON, NJ — Bussel Realty Corp. (BRC) , a leading industrial/retail
r e a l e s - tate services firm in New Jersey, rep- r e s e n t e d T a y l o r e d / FMI in i ts expansion of 92,140 s/f at 201 Mill Rd.
Steve Bussel
in Edison, a 180,359 s/f in- dustrial property in Heller Industrial Park . Steve Bussel , president of BRC, represented Taylored/
201 Mill Rd.
P o s k a n z e r S k o t t A r c h i t e c t s 550 North Maple Avenue, Ridgewood, NJ 07450 201.445.2322 www.poskanzerskott.com
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