SOUTH BRUNSWICK, NJ — Woodmont Industrial Partners (WIP), a national developer and owner of industrial properties, and EverWest Real Estate Investors, an institutional real estate investment and operating company announced the acquisition of 461 Ridge Rd., a 144,551 s/f industrial facility in South Brunswick.
Located in the established Exit 8A submarket, the property is just five miles from the New Jersey Tpke. and less than two miles from Rte. 130. Key building features include 22’ clear height, 22 dock doors, three drive-in doors, 120-foot truck court and concrete tilt-up panels on a 12-acre site with building expansion opportunities.
“As we strategically grow our industrial portfolio of well-located and high-quality assets, we’re thrilled to also build a longstanding relationship with EverWest Real Estate Investors,” said Eric Witmondt, principal of Woodmont Industrial Partners. “With tremendous potential for industrial, bolstered by skyrocketing demand for e-commerce, we’ll continue to seek out value-add opportunities in key markets across the U.S.”
David Blitt of Bussel Realty represented the seller in this transaction. The seller has leased back the space on a short-term basis. Woodmont and EverWest plan to renovate the existing facility upon lease expiration, enhancing building specifications to best meet the demand from distribution and logistics users.
“This property’s existing functionality and low coverage provided an attractive acquisition opportunity in one of New Jersey’s best performing submarkets,” said Steve Feinberg, EverWest’s director of Northeast acquisitions.