Search
 

GCP Subsidiary Buys 325,000-SF Industrial Building

FLEMINGTON, NJ-K&K Developers picks up the building from a materials handling company in a transaction arranged by Trammell Crow and Binswanger. The sale price was not disclosed.

By Eric Peterson | Updated on September 29, 2003

FLEMINGTON, NJ-K&K Developers Inc. has acquired a 325,000-sf industrial building in this Hunterdon County seat for an undisclosed sale price. The buyer is a subsidiary of Garden Commercial Properties, based in Short Hills, NJ, a firm that primarily owns and develops community shopping center properties and, through its Garden Homes subsidiary, multifamily residential properties.

K&K Developers was represented in the negotiations by Frank Truesdell, senior vice president in the Florham Park, NJ office of Trammell Crow Co. The seller, NAACO Materials Handling Corp., was represented jointly by David Knee of the Binswanger/Klatskin Co., Teterboro, NJ, and Mark Policarpo of the Binswanger organization’s Philadelphia office. Details of the transaction were not released.

“This transaction reflects the continued strength of the commercial and industrial markets in New Jersey,” according to Truesdell, an assessment that particularly applies to the industrial side of the equation, and to investment sales in the Garden State in particular.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2025 ALM Global, LLC. All Rights Reserved.