The building is owned by the Bristol Group Inc., a San Francisco-based investment and development firm, which was represented in the transaction by Thomas Monahan, senior vice president, and senior associate Andrew Houston of Colliers Houston & Co. Simplex Grinnell was represented by brokers from CB Richard Ellis.
The Tyco subsidiary will take over space once occupied as the headquarters of Enterprise Golf and Sportswear, which has closed. Terms of the Simplex Grinnell lease were not disclosed, although the 14,700-square-foot retail portion of the space had been listed with an asking price of $15 per square foot triple net. The remaining approximately 12,000 square feet of flex/warehouse space was listed at $7.50 per square foot triple net.
"With its location and flexibility to accommodate both retail and warehouse capabilities, we believe that this property will serve needs of Simplex Grinnell's fire suppression equipment business," Monahan says.
Built in 1971, the single-story building is situated off Route 3 and the New Jersey Turnpike within the Harmon Cove Industrial Park. The multi-tenant asset is now 100% leased.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 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.
