Crow Holdings Industrial completes $164M sale of 925,000 s/f Franklin Twp., NJ logistics property

FRANKLIN TOWNSHIP, NJ — Crow Holdings Industrial (CHI) has sold 50 Veronica Ave., a 925,000 s/f, fully occupied warehouse in Franklin Twp. to BentallGreenOak, on behalf of an institutional investor, for $164 million. The newly built property was developed in partnership with The Carlyle Group and is fully leased to LG Electronics USA, which commenced its seven-year tenancy in April 2020. Cushman & Wakefield’s East Rutherford-based capital markets team of Gary Gabriel, vice chairman, Andrew Merin, executive vice chairman, and Kyle Schmidt, managing director, represented CHI in the transaction.

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