Schultz Closes Industrial Deal in Soft Market

PISCATAWAY, NJ–Woodbridge-based the Schultz Organization has orchestrated the sale of an 87,701-square-foot industrial asset located here at 239 Old New Brunswick Rd. The investment sales team of Steven M. Schultz, principal, and Tony Georgiev, senior director, represented building owner 239 Old New Brunswick Road Co. LP

The property, located one-quarter mile from Interstate 287, consists of 72,117 square feet of warehouse space and two floors of office space totaling 15,584 square feet. Situated on approximately five acres, the facility features 24-inch ceilings, one drive-in bay, seven loading docks, and a newly installed roof. Terms of the deal were not available by deadline.

“We are very pleased with the Schultz Organization’s persistence and creativity to effectuate this transaction during the current economic conditions,” 239 Old New Brunswick Road Co. president Marshall Knopf, said in a statement. “Schultz’s dedicated professionals possess an inherent knowledge of how to navigate through this credit and deal-constricted marketplace, which proved to be tremendously helpful in negotiating this transaction at favorable terms for both parties.”