MT. LAUREL, NJ — Liberty Property Trust purchased two industrial buildings last month in New Jersey for a combined investment of $51.8 million.
“Given strong industrial market fundamentals in the region, we have strategically added seven well-located properties to our portfolio over the last year and a half,” said Michael Cohen, senior vice president of investments for Liberty. “These acquisitions deepen our presence in the high-growth New Jersey Turnpike corridor and we look forward to evaluating additional investment opportunities through the balance of 2019.”
Acquisitions expand New Jersey footprint
Liberty added to its Central New Jersey portfolio with the sale leaseback acquisition of 75 Ethel Rd. in Edison for $12.2 million. The 101,454 s/f building features a 22-foot clear height and is strategically located along I-287 near Exit 10 of the New Jersey Tpke. Lou and Scott Belfer of CBRE were involved in the transaction.