GTJ REIT Acquires Industrial Property In Spring Creek For $14M From Seller Noamex And Broker Michael Levenstein

GTJ REIT has acquired an industrial property located at 625 Wortman Avenue in the Spring Creek market. The property is zoned as M1-1 and spans approximately 58,100 square feet. The sale price for this transaction was $14,000,000, resulting in a price per square foot of $240. The property has a building square footage (BSF) of 70,000 and a price per building square foot (PPBSF) of $200.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $14,000,000
• Address: 625 Wortman Avenue
• Market: Spring Creek
• Zoning: M1-1

The seller of the property was Noamex, represented by Michael Schefren & Gary Schefren. The buyer, GTJ REIT, was represented by Michael Levenstein from The Rochlin Organization.