SOLD
Township Of Edison Acquires Development Site In South Edison For $12.75M
41 Glendale Avenue
Development Site
378,972 SF
378,972 SF
Sold 87 days ago
Summary
Sale
NEW JERSEY
Development Site
378,972 sqft
The Township of Edison has acquired a development site located at 41 Glendale Avenue in Edison. The property spans 378,972 square feet and was sold for $12,750,000, equating to a price per square foot of $34.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $12,750,000
- Address: 41 Glendale Avenue
- Market: Edison
- Square Footage: 378,972
Noa Shemtov, Tal Marciano, and Matt Einheber from TitleEQ facilitated the deal between the Township of Edison and the seller. The acquisition was influenced by the cancellation of a warehouse project, prompting the township to focus on enhancing the quality of life for residents, particularly due to concerns over increased truck traffic in the area. Mayor Joshi expressed optimism about the acquisition of this waterfront property in Central Jersey.
Players
All
4
Agents
3
Agencies
1
Details
SOLD
IMAGE: Noa Shemtov & Matt Einheber
DATE: 01/31/2024
ADDRESS: 41 Glendale Avenue
MARKET: Edison
ASSET TYPE: Development Site
BUYER: Township Of Edison
BROKER: Noa Shemtov, Tal Marciano (@Talmor93) & Matt Einheber - TitleEQ (@TitleEQ)
SALE PRICE: $12,750,000
SF: 378,972 ~ PPSF: $34
NOTE FROM BROKERS: Deal closed with TitleEQ.
The township of Edison just purchased this South Edison property. This move follows the cancellation of a warehouse project due to opposition from residents concerned about increased truck traffic in their neighborhood. Mayor Joshi views the property acquisition as the beginning of efforts to enhance residents’ quality of life. “It is very rare for such a piece of prime property along a waterfront to become available in Central Jersey.View on map
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Address41 Glendale Avenue
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