NAI James E. Hanson arranges $37M sale of IOS property in South Plainfield, NJ

Avanzato, Todd & Ericksen represent buyer, Ridgecut Road in transaction

South Plainfield, NJ — NAI James E. Hanson, one of the largest New Jersey-based full-service independent commercial real estate firms, negotiated the $37 million sale of a 7.81-acre industrial outdoor storage (IOS) site with two buildings totaling 30,069 s/f, located at 200 St. Nicholas Ave. in South Plainfield.

Senior managing directors Jordan Avanzato, SIOR, and Christopher Todd, SIOR, and managing director William Ericksen, SIOR, CCIM of NAI James E. Hanson’s Institutional Services Group, represented the buyer, Ridgecut Road, in the transaction with the seller, JESCO Equipment. At closing, JESCO Equipment entered into a short-term license agreement for the property.

“IOS continues to be a critical component of the industrial market, especially for logistics and distribution users that rely on well-located, functional sites to support their operations,” said Avanzato. “The combination of location, usability, and long-term optionality made this a highly compelling acquisition.”

Todd added, “Infill IOS supply in New Jersey is exceptionally constrained, which continues to fuel competition among buyers looking to scale their portfolios. We’re pleased to have helped our client secure a highly sought-after asset in one of the most competitive IOS markets nationwide.”

Founded in 2021, Ridgecut Road is a real estate investment firm focused on owning and operating low-coverage industrial assets and developing Class-A warehouse, distribution, and logistics facilities in New York and New Jersey.

JESCO Equipment is a leading construction and forestry equipment dealer serving the Northeast and Mid-Atlantic regions. The company is the sole authorized John Deere Construction & Forestry Equipment dealer for New Jersey, New York, Delaware, and the Hudson Valley, and carries equipment from brands including Wirtgen, Hamm, Kleemann, and Vogele.