SOUTH BRUNSWICK, NJ—In its third New Jersey acquisition in the past year, CenterPoint has acquired a 223,977 square-foot facility at 27 Distribution Way in South Brunswick, NJ. Ben Sgambati and Elsa Loverde of Marcus & Millichap represented the seller.
“This was an opportunity to acquire a fully leased building in a very tight, Exit 8A submarket that has seen significant rental rate growth in the last 24-36 months,” says Evan Lippow, vice president of investments at CenterPoint. “This building benefits from above standard trailer parking and rail service – both features that attracted us to the investment opportunity.”
Located on 16 acres, the site is rail-served and has 28 loading positions. The site also has a 220' truck court and 52 trailer parking spots. With access to I-95, Route 130 and U.S. Hwy 1, the site accommodates one to two daily trips to the Port of New York and New Jersey.
“This is CenterPoint's third acquisition in New Jersey in the last 12 months, and our East Coast portfolio now consists of more than 12.5 million square feet located in the port related submarkets,” says PJ Charlton, senior vice president of investments at CenterPoint. “We have invested more than $2 billion into the industrial sector in the last three years and look forward to continuing our growth in 2018.”
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Steve Lubetkin
Steve Lubetkin is the New Jersey and Philadelphia editor for GlobeSt.com. He is currently filling in covering Chicago and Midwest markets until a new permanent editor is named. He previously filled in covering Atlanta. Steve’s journalism background includes print and broadcast reporting for NJ news organizations. His audio and video work for GlobeSt.com has been honored by the Garden State Journalists Association, and he has also been recognized for video by the New Jersey Chapter of the Society of Professional Journalists. He has produced audio podcasts on CRE topics for the NAR Commercial Division and the CCIM Institute. Steve has also served (from August 2017 to March 2018) as national broadcast news correspondent for CEOReport.com, a news website focused on practical advice for senior executives in small- and medium-sized companies. Steve also reports on-camera and covers conferences for NJSpotlight.com, a public policy news coverage website focused on New Jersey government and industry; and for clients of StateBroadcastNews.com, a division of The Lubetkin Media Companies LLC. Steve has been the computer columnist for the Jewish Community Voice of Southern New Jersey, since 1996. Steve is co-author, with Toronto-based podcasting pioneer Donna Papacosta, of the book, The Business of Podcasting: How to Take Your Podcasting Passion from the Personal to the Professional. You can email Steve at [email protected].
