CBRE arranges $83M sale of 570,000 s/f warehouse and distribution center in Edison, NJ
EDISON, NJ — CBRE announced the $83 million sale of Middlesex Logistics Center in Edison. A joint venture of ASB Real Estate Investments and Cohen Asset Management acquired the fully leased, class A property located at 549 Mill Rd., from JP Morgan Asset Management. CBRE National Partners Brian Fiumara, Mike Hines and Brad Ruppel, along with Tom Monahan, negotiated the sale on behalf of JP Morgan Asset Management. “This sale is yet another indication of how active the industrial market is in New Jersey,” said Fiumara, executive vice president. “We are seeing product trading at record highs throughout the state and there seems to be very little indication that this will subside in the near term.”
Completed in 2014, the building features 36-foot clear heights, 101 loading docks and parking for 190 cars and 135 trailers. The property is in close proximity to New York City and the Port of Newark-Elizabeth.