Cushman and Wakefield announced an industrial sale in Linden comprised of two buildings and an adjacent outdoor storage site.
Announced Aug. 8, the transaction includes a portfolio with a cumulative 73,277 square feet of space – spread across a 46,674-square-foot industrial building and a 26,602-square-foot industrial lab – and a 2.1-acre laydown yard located at 1301 and 1401 W. Blancke St. and 1312-1340 W. Elizabeth Ave.
CushWake‘s Gary Gabriel, Kyle Schmidt and Seth Zuidema represented the seller, Hub Realty, and procured the buyer, Modio. Financial terms were not disclosed.
“This portfolio is ideal for the diverse tenant base that calls Linden and the Greater New Jersey Port Market home,” Schmidt said in a statement. “Functional building designs, a 2-acre Industrial Outdoor Storage (IOS) parcel and significantly below market leases made for a compelling opportunity.”
The location of the portfolio is compelling, as well, near Exit 13 on Interstate 95 with connectivity to Interstate 78 and Routes 22, 1 and 9. It is also less than 10 miles to the Port of New York and New Jersey and Newark Liberty International Airport.
IOS in demand
No, we’re not talking another Apple update for your phone. Industrial Outdoor Storage space has seen increasing interest of late: