Cabot Properties Acquires Industrial Property On Strykers Road In Phillipsburg For $110M

Located at 39 Strykers Road in Phillipsburg, this industrial property spans across 66 acres. The property, sold on April 25, 2022, was acquired by Cabot Properties. The transaction was facilitated by brokers John Plower and Jon Mikula from JLL. The property offers a total square footage of 511,200 and was sold at a price of $110,000,000, resulting in a price per square foot of $215.

Summary of transaction details

• Property Type: Industrial
• Transaction Amount: $110,000,000
• Address: 39 Strykers Road
• Market: Phillipsburg
• Acres: 66
• Buyer: Cabot Properties
• Seller: J.G. Petrucci Inc. - Peter Polt & PGIM Real Estate
• Brokers: John Plower & Jon Mikula - JLL
• Square Footage: 511,200
• Price per Square Foot: $215

The sale of this industrial property involved key individuals and companies such as Cabot Properties, a buyer, and J.G. Petrucci Inc. represented by Peter Polt and PGIM Real Estate, the seller. The deal was successfully mediated by brokers John Plower and Jon Mikula, who work at JLL. With its substantial acreage and expansive square footage, this transaction marks a significant milestone in the Phillipsburg industrial market.