AVENEL, NJ— A joint venture of Ivy Equities and CenterSquare Investment Management has sold its 317,500-square-foot manufacturing and warehouse building at 11 Cragwood Road for $25.2 million to CenterPoint Properties. Cushman & Wakefield's Metropolitan Area Capital Markets Group orchestrated the transaction.
Located on nearly 20 acres in New Jersey's Port Region industrial market, 11 Cragwood Road has been fully leased to Gentek Building Products for more than four decades.
The property offers one-turn access to New Jersey Turnpike Exit 12, proximate to the ports and the New York City Metropolitan Area's 23 million consumers.
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