Sale of 26 Engelhard Drive in Monroe, NJ Takes Multiple Bidding Rounds

26 Englehard Dr., Monroe Twp., NJ

MONROE, NJ—Investors drove the bidding for Principal Real Estate Investors’26 Englehard Drive into multiple rounds before it was acquired by a Boston-based advisor in a sale arranged by Cushman & Wakefield’s Metropolitan Area Capital Markets Group. The 324,540-square-foot industrial building has a unique feature in the NJ Turnpike Exit 8A submarket – a rail line to the building serviced by Conrail.

“There is very strong interest from the institutional community in Exit 8A, and correspondingly a deep investor pool for this property,” says Gary Gabriel, who handled the sale with team members David Bernhaut, Andrew Merin, Kyle Schmidt, Brian Whitmer, Jules Nissim and Jason Goldman on behalf of Principal Real Estate Investors. “We had multiple rounds of competitive bidding.”