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NEW BRUNSWICK, NJ-Procedyne Corp. had occupied its headquarters/manufacturing building at 11 Industrial Ave. for years, and when it came time to renew its lease, the company ended up buying the building instead. The sale price of approximately $4 million factors out to nearly $67 per sf.

The seller and now-former landlord is Industrial Avenue Realty, a local group headed by Larry Berger. The latter was represented in the transaction by Zimmel Associates of Edison, , specifically the firm's president, David Zimmel; the buyer was represented by principals Shalom Babad and Sam Rothman.

"The timing worked to the advantage of both parties," Zimmel says. "Procedyne, a major supplier of thermal processing systems, had been a tenant for 20 years and had a major investment in the building with regard to their overall operations. They saw the benefits of purchasing it as a time when the seller was ready to make adjustments to their real estate portfolio." The just-sold building is situated on four acres and has a 12,000-sf office component.