BLP Acquires 170K SF Industrial Property In Linden, NJ For $89.5M

The property asset involved in this transaction comprises two warehouses located at 3301 Tremley Point Rd and 3351 Tremley Point Rd in Linden, New Jersey. The total sale price for the industrial properties was $89,500,000, and the combined square footage of the warehouses is 170,000 SF, translating to a price per square foot of $526. The properties are situated on 14.65 acres and are strategically located adjacent to I-95, in close proximity to Newark International Airport, Ports Newark & Elizabeth, and New York City. The North building is classified as a second-generation Class A facility, featuring 36’ clear heights and cold storage space, while the South building is described as a functional Class B warehouse equipped with numerous dock-high and grade-level doors.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $89,500,000
• Buyer: BLP - Bridge Logistics Properties
• Buyer's Representative: Will Gilkeson
• Brokers: Leo Josephs & Joshua Meisner - Leo Josephs & Company, Inc. (LJCI)
• Square Footage: 170,000 SF
• Price Per Square Foot: $526
• Location: 3301 Tremley Point Rd & 3351 Tremley Point Rd, Linden, New Jersey

BLP has made significant progress since its formation, having acquired six existing properties and one development site, totaling 565,519 SF. The Northeast team, led by Will Gilkeson, currently has a robust pipeline of assets under agreement, showcasing the company's strategic growth in the logistics sector.