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NAI Fennelly Negotiates $2M Sale Of 37 And 41 Burnt Tavern Rd In Millstone, NJ

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SOLD
$2,000,000

New Jersey

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Industrial279,655 SF
Sold 05/25/2022
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Property Image
SOLD

NAI Fennelly Negotiates $2M Sale Of 37 And 41 Burnt Tavern Rd In Millstone, NJ

37 Burnt Tavern Road, Millstone Township, New Jersey 08510, United States

See Similar Deals
Industrial279,655 SF
Sold 05/25/2022
the dealplayerscompscontact
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Summary

NEW JERSEY
Asset Type:Industrial
Price Per Square Foot:$7
Total Square Footage:279,655 SF
Transaction Type:Sale

A 11.02-acre industrial property located at 37 Burnt Tavern Rd in Millstone, New Jersey has been sold for $2 million. The sale was negotiated by NAI Fennelly, with Jerry Fennelly, SIOR, representing the seller PAK SC, LLC. The buyer, RDM Management, plans to construct a 130,063-square-foot Class-A industrial building on the site, featuring 16 loading docks and one drive-in.

Summary of transaction details:

  • Property Type: Industrial
  • Transaction Amount: $2,000,000
  • Market: Millstone
  • Address: 37 Burnt Tavern Rd
  • Brokers: Jerry Fennelly - NAI Fennelly

The property is ideally located off Exit 16 on Interstate 195, offering excellent connectivity to the New Jersey Turnpike, as well as the metropolitan areas of New York City and Philadelphia. Its prime location in central New Jersey, combined with the high demand for industrial space, makes it a valuable investment opportunity. NAI Fennelly continues to assist clients in capitalizing on the robust market for developable land, bringing important rateables to towns like Millstone.

Players

Jerry Fennelly
Fennelly Associates
Jerry Fennelly
22 deals$91.6M volume
BROKER
NAI Global
NAI Global
BROKERAGE

Details

SOLD
IMAGE: Jerry Fennelly DATE: 05/25/2022 ADDRESS: 37 Burnt Tavern Rd MARKET: Millstone ASSET TYPE: Industrial ~ ACRES: 11.02 BROKER: Jerry Fennelly (@JerryFennelly) - NAI Fennelly (@NAIFennelly) SALE PRICE: $2,000,000 NOTE FROM @NAIFennelly: NAI Fennelly announces it has negotiated the sales of 37 and 41 Burnt Tavern Road in Millstone, N.J. for $2 million. NAI Fennelly’s Jerry Fennelly, SIOR, represented the seller of 37 Burnt Tavern Road, PAK SC, LLC, and the seller of 41 Burnt Tavern Road, WBP, LLC, in the transactions with RDM Management. Situated directly off Exit 16 on Interstate 195, 37 and 41 Burnt Tavern Road cover a total of 11.02 acres and feature ideal connectivity to the New Jersey Turnpike as well as the New York City and Philadelphia metropolitan areas. Capitalizing on the tremendous demand for industrial space in the market and the superior location of the properties, RDM Management plans to construct a 130,063-square-foot Class-A industrial building boasting 16 loading docks and one drive-in on the combined site. The property was not approved at the time of closing. “Prime development sites in central New Jersey continue to be few and far between,” said Jerry Fennelly, SIOR, President of NAI Fennelly. “We continue to work closely with our clients to help them capitalize on this robust market for developable land to create value from their assets while also helping to bring important rateables to towns like Millstone.”

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