SECAUCUS, NJ— MEPT, a $7 billion real estate equity fund advised by Bentall Kennedy is purchasing a 212,000-square-foot industrial facility, formerly Daffy's Distribution Center, located on 20 acres in Secaucus, New Jersey for $19.5 million.
HFF arranged the sale on behalf of Sitex Group, the property owner. The high profile site is located on Daffy's Way within a triangle made up of the Lincoln Tunnel toll road (Interstate 495), New Jersey Route 3 and the New Jersey Turnpike, one of the most trafficked thoroughfares in the U.S. providing access to various localities in New Jersey, Delaware, Pennsylvania and New York. The location is 12.3 miles north of Newark Liberty International Airport and Port Newark/Elizabeth and less than five miles from Midtown Manhattan.
Managing director Michael Nachamkin led the HFF investment sales team.
Continue Reading for Free
Register and gain access to:
- 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
© 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.