Ridgecut Road Acquires 5.5 Acre Industrial Facility From K Group In Edison For $24.5M

The property asset involved in this transaction is a 5.5-acre industrial service facility located at 76 National Road in Edison. The facility was sold for $24,500,000 and encompasses a total square footage of 25,000, yielding a price per square foot of $980. It is fully leased to FedEx Ground and a regional logistics firm, ensuring stable, investment-grade cash flow and convenient access to Interstate 287, the New Jersey Turnpike, and Port Newark-Elizabeth.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $24,500,000
• Address: 76 National Road
• Market: Edison
• Acres: 5.5
• Square Feet: 25,000
• Price per Square Foot: $980
• Buyer: Ridgecut Road
• Seller: K Group
• Brokers: Jason Lundy, Nick Stefans & Luke Ceccoli - JLL
• Mortgage Brokers: Michael Klein, Max Custer, Kevin Badger & Matthew McManus - JLL

This transaction highlights the roles of several key individuals; brokers Jason Lundy, Nick Stefans, and Luke Ceccoli were involved in representing the buyer, Ridgecut Road, while mortgage brokers Michael Klein, Max Custer, Kevin Badger, and Matthew McManus facilitated the financing through JLL. The involvement of multiple experienced professionals underscores the strategic nature of this industrial asset acquisition.