CenterPoint Properties Acquires Two Industrial Buildings In Avenel New Jersey For 387526 SF

CenterPoint Properties acquired two fully leased industrial buildings located at 191 and 215 Blair Road in Avenel. The total square footage of the assets amounts to 387,526, contributing to CenterPoint's New Jersey portfolio, which now exceeds 8 million square feet across 43 properties. The industrial buildings are situated in proximity to Port Newark and the airport and offer features such as high door counts and additional parking.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: Not disclosed
• Address: 191 & 215 Blair Road
• Market: Avenel
• Total Square Footage: 387,526
• Buyer: Jim Clewlow - CenterPoint Properties
• Brokers: Gary Gabriel, Kyle Schmidt & Ryan Larkin - Cushman & Wakefield

This transaction highlights the strategic investment approach of CenterPoint Properties, aligning with their infill investment strategy within the Exit 12 submarket. The deal was facilitated by brokers Gary Gabriel, Kyle Schmidt, and Ryan Larkin from Cushman & Wakefield, showcasing their role in navigating the complexities of the industrial real estate market.