Invesco Real Estate Acquires $55M Industrial Building in South Brunswick, NJ

Invesco Real Estate has purchased 152 Ridge Road, a 216,000-square-foot industrial building in South Brunswick Township, NJ. The acquisition amounted to $55 million, as per public records. This property was last sold in 2018 by Jay Franco & Sons for $22 million, according to data from CommercialEdge.

Property Features

The industrial building, constructed in 1991, serves as a warehouse and distribution facility. Notable features include 33 loading doors, 30-foot clear heights, insulated ceilings, ESFR fire sprinklers, solar panels, and approximately 125 parking spaces.

Tenant Information

At the time of the sale, the property was fully leased to Five Star Warehouse, a third-party logistics company.

Transaction Brokerage

JLL Capital Markets facilitated the transaction, with Jordan Avanzato and Marc Duval as Managing Directors, Nicholas Stefans and Jason Lundy as Directors, Jose Cruz as Senior Managing Director, and Conor Walsh as Associate leading the JLL team.

Location and Accessibility

Situated in New Jersey’s Cranbury submarket, 152 Ridge Road enjoys proximity to Interstate 95, facilitating easy access to the Philadelphia and New York City metropolitan areas.

Market Insights

New Jersey ranked fourth nationwide for industrial transactions in the previous year, generating a total of $2.7 billion. Assets traded at an average of $218 per square foot, significantly surpassing the national average of $129, according to a recent report from CommercialEdge.