Commerce Park Investors Acquires Industrial Property In East Hanover, NJ For $2.2M

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.