21 Worlds Fair Drive, Somerset, NJ
SOMERSET, NJ—The Silverman Group has acquired 21 Worlds Fair Drive in Somerset, NJ, a 41,000-square-foot mixed-use warehouse, for $3.6 million. Silverman Group selected Jones Lang LaSalle, which brokered the sale transaction, to serve as exclusive leasing agent for the property.
The tenant and Silverman were represented by Chad Hillyer, managing director; Brian Golden, executive vice president; and Tyler Baker, senior associate, all with JLL.
“This was a unique opportunity for The Silverman Group,” says Hillyer. “The market for New Jersey industrial real estate has appreciated greatly, and Silverman was able to leverage its ability to execute on a tight time frame, to acquire a valuable asset as well as expand their growing industrial portfolio Silverman is now looking to lease 21 Worlds Fair Drive to one or two tenants. The property is ideal for warehouse and distribution, and light manufacturing, and the office space has high-end finishes.
The property includes approximately 11,215 square feet of office space, and the warehouse potion offers an 18-foot ceiling height, 30-foot by 30-foot column spacing, five loading docks and one drive-in door.
“We are very excited about this recent acquisition and look forward to working with the JLL team on this assignment”, says Toby Nelson, vice president of leasing, for The Silverman Group.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- 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
*May exclude premium content© 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.
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].
