Northbridge Partners Acquires Industrial Asset From The Avidan Group In Branchburg

The property involved in the transaction is a 50,400 square foot industrial facility located at 161 Meister Ave, Branchburg, NJ, 08876. The asset is fully leased to Fed-Ex and sits on 3.49 acres of land. Positioned less than one mile from State Route 22, the facility enjoys close proximity to Interstates 78 and 287, key highways in the New York metro area. Furthermore, the property is situated in New Jersey’s affluent region, with median household incomes more than double the national average.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: Not Disclosed
• Market: Branchburg
• Seller: Elberon Development Group, The Avidan Group
• Buyer: Northbridge Partners
• Seller's Representatives: Michael (Mike) Kavanagh(JLL), Michael Oliver(JLL), Michael "Mike" Oliver(JLL)
• SF: 50400

The deal was brokered by JLL Capital Markets, with a team led by Marc Duval, Jordan Avanzato, Jose Cruz, Mike Kavanagh, and Mike Oliver. The property was acquired by Northbridge Partners, a Boston-based company specializing in last-mile distribution centers. Northbridge focuses on acquiring and developing industrial real estate assets near densely populated areas. Earlier this year, the company established a $500 million fund, supported by various entities, to invest in strategically located US East Coast industrial assets crucial for modern e-commerce supply chains. This recent acquisition aligns with Northbridge's strategy of enhancing its portfolio with properties critical for efficient delivery services.