GLP Capital Partners LLC Acquires Industrial Property In Monroe Township For $53.75M

A 203,000-square-foot industrial property located at 34 Engelhard Drive in Monroe Township has been sold for $53.75 million. The property, situated on 12 acres of land, was acquired by GLP Capital Partners LLC from Clarion Partners. This transaction highlights the strong demand for well-located warehouse and distribution facilities in New Jersey's industrial market.

Summary of transaction details

• Property Type: Industrial
• Transaction Amount: $53,750,000
• Address: 34 Engelhard Drive, Monroe Township
• Market: Monroe Township
• Acres: 12

The buyer, GLP Capital Partners LLC, represented by Alan Yang, made the purchase from the seller, Clarion Partners, represented by David Gilbert. Brian Fiumara from CBRE acted as the broker for this deal. The sale price of $53.75 million corresponds to a price per square foot of $265. This transaction further demonstrates the strong demand for industrial properties in New Jersey's market.