Editor's note: The following information is a press release from Bussel Realty Corp.
Bussel Realty Corp. (BRC), a leading industrial real estate services firm in New Jersey, announced Thursday it has brokered the sale of 475 Jersey Avenue, New Brunswick, New Jersey, a 185,000 s.f. multi-tenanted industrial facility. The property was sold for $4.6 million to an undisclosed buyer. Senior Vice President Earl Lapides of BRC represented the owner, Don Gatarz in the transaction.
“As a fully-occupied, functional industrial facility, 475 Jersey Avenue was an ideal investment for this buyer who was seeking an equity presence in the lucrative New Jersey industrial market,” commented Earl. “We are delighted to have arranged this sale on behalf of our client and know the property represents an outstanding investment for our buyer.”
Sitting on 14 acres of land, 475 Jersey Avenue offers building features such as high ceilings, dry sprinklers, eight bridge cranes, heavy power, rail service off of a Conrail main rail line as well as eight tailboards and six drive-in doors. Located near Routes 1 and 18 and the New Jersey Turnpike, the property provides a strategic location for industrial users in Central New Jersey.