SOLD
Commerce Park Investors Acquires Industrial Property In East Hanover, NJ For $2.2M
272 Ridgedale Avenue
Industrial
609,840 SF
609,840 SF
Sold 1 year ago
Summary
Sale
NEW JERSEY
Industrial
609,840 sqft
The sale of a 30,000 square foot industrial property located at 272 Ridgedale Ave in East Hanover, NJ has been completed. The property was sold by Control Products to Commerce Park Investors for a sale price of $2,232,000. Control Products manufactures waterproof and thermal switches designed for reliable performance in challenging environments.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $2,232,000
- Address: 272 Ridgedale Ave, East Hanover, NJ
- Market: East Hanover, NJ
- Buyer: Commerce Park Investors
- Seller: Control Products
The sale of the property was part of a larger transaction involving the sale of Control Product's business to a multinational industrial electronics conglomerate. The deal was executed with the assistance of Caillin Boles from Progress Capital, who provided financing for the acquisition.
Players
All
6
Agents
3
Agencies
2
Lenders
1
Details
SOLD
IMAGE: Bryan Huber & Ryan Morris
DATE: 07/30/2021
ADDRESS: 272 Ridgedale Ave
MARKET: East Hanover, NJ
ASSET TYPE: Industrial
BUYER: Commerce Park Investors
SELLER: Control Products
BROKER: Bryan Huber & Ryan Morris - (@SabCapital)
ASKING PRICE: $2,302,000
SALE PRICE: $2,232,000
SF: 30,000 ~ PPSF: $74
NOTE: SAB Capital executes sale/leaseback for Control Product's (“CP”) East Hanover facility. CP manufactures waterproof and thermal switches engineered for reliability in the harshest environments. The property sale was structured alongside a third-generation family's sale of the business to a multinational industrial electronics conglomerate. The buyer was supported by Caillin Boles of Progress Capital to finance the acquisition.View on map
Loading...
Address272 Ridgedale Avenue
Comparables
Reset filters to show results.
Contact
Get in touch with the broker you want