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High Street Equity Buys 750,000-SF Portfolio

ALLENDALE, NJ-The fund manager has added 11 buildings to its holdings, including the seven-building Allendale Park.

By Eric Peterson | Updated on April 20, 2008

ALLENDALE, NJ-Boston-based fund manager High Street Equity Advisors now owns an additional 11 industrial buildings in New Jersey, totaling 750,000 sf. The firm has picked up the assets as a portfolio acquisition for an undisclosed price, in a deal brokered by Cushman & Wakefield’s Metropolitan Area Capital Markets Group, East Rutherford. C&W had been involved in the seller’s initial purchase of the assets during the past decade.

The brokers declined to identify that seller of the properties. However, all had been previously listed with First Industrial Realty Trust as the owner , and their acquisition by the REIT had previously been reported by GlobeSt.com.

The portfolio includes seven buildings, totaling just less than 369,000 sf, that make up most of Allendale Park, an industrial/flex campus here. The seven buildings are currently listed as 94% leased.

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