Joseph J. Sitt Of Thor Equities Acquires Industrial Property In Bridgewater For $111 Million

The property asset involved in this transaction is an industrial facility located at 1E Chimney Rock Road in Bridgewater. This site encompasses 38.6 acres and features a total square footage of 580,227. The asset was acquired for a total transaction price of $111,000,000, resulting in a price per square foot of $191.

Summary of transation details:

• Property Type: Industrial
• Transaction Amount: $111,000,000
• Address: 1E Chimney Rock Road
• Market: Bridgewater
• Acres: 38.6
• Square Footage: 580,227
• Price per Square Foot: $191
• Buyer: Joseph J. Sitt - Thor Equities
• Brokers: Bill Baunach, Gary Gabriel, Kyle Schmidt, Ryan Larkin & Seth Zuidema - Cushman & Wakefield

Joseph J. Sitt represented Thor Equities in the acquisition of the property from Lovett Industrial. The deal was facilitated by Cushman & Wakefield, underlining Thor's strategic expansion within New Jersey's industrial market.