Dayton, NJ — CenterPoint has acquired 295,000 s/f of warehouse space at 10 Corn Rd. in Dayton. Two buildings cover just 20% of the sizable 34-acre site, which is leased long-term to a national beverage company serving the Northeast from this location.
The property, located within minutes to the New Jersey Tpke., has ideal access to the New Jersey and New York populations, Port Newark-Elizabeth and Newark International Airport.
"We're very excited to add this to our 8A portfolio," said CenterPoint Investment Officer Bryan Won. "The property's unique features make this a highly attractive investment because it can cater to a myriad of industrial uses from food and beverage applications to traditional distribution, in a market where there is virtually no availability," Won emphasized.
Exit 8A has been one of the hottest submarkets in New Jersey in recent years. With a vacancy rate of less than 1% this year, competition for space among users is at record levels.
"10 Corn Rd. is well located within the 8A submarket, and it sits on a parcel that affords us expansion flexibility long term," said PJ Charlton, CenterPoint's senior vice president of investments. "This is our sixth acquisition in the New Jersey/New York City metro area in the last 12 months. The region is clearly one of the hottest industrial markets in the country," Charlton finished.
Comments