Open Industrial Purchases Industrial Asset From New Vernon Equities In Piscataway For $13.61M

The transaction involved a property located at 166 Baekeland Avenue, Piscataway, NJ. This industrial asset was sold for a price of $13,612,500. The total square footage of the property is 6,500, resulting in a price per square foot of $2,094.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $13,612,500
• Address: 166 Baekeland Avenue
• Market: Piscataway, NJ
• Square Footage: 6,500
• Price per Square Foot: $2,094
• Buyer: Open Industrial
• Seller: New Vernon Equities
• Brokers: Marc D. Smouha & Joshua Noah Shmuel - CorePoint RE

This industrial outdoor storage transaction was facilitated by CorePoint RE, representing both the buyer and the seller. The deal was conducted off-market, showcasing the active engagement of CorePoint RE in property transactions nationwide.