Follow on Google News News By Tag Industry News Country(s) Industry News
Follow on Google News | Cushman & Wakefield Arranges $83 Million Sale of Barnes & Noble Distribution Center1.15 Million-SF Central New Jersey Facility was sold to CenterPoint Properties
By: Caryl Communications "This was a unique opportunity that drew solid interest," said Gabriel. "The transaction evidences the fact that investors are willing to accept large single-asset/ "The result, in this instance, is the largest leased industrial property sale in New Jersey, in at least a dozen years," he said. Situated on 73 acres at Exit 8A of the New Jersey Turnpike (I-95), the Barnes & Noble Distribution Center was constructed in 2005. Located approximately 35 minutes from the Port of Newark/Elizabeth, the property can accommodate an expansion of up to 100,800 square feet. "The tenant, whose lease runs through 2020, invested approximately $100 million into the building," Merin added. "With its high ceilings, amenities and infrastructure, it is fully configured for e-commerce fulfillment, which is what the world is looking for today." From the site, Barnes & Noble distributes books, electronics, toys and games to more than 700 stores nationwide, and to e-commerce customers internationally. Fully air-conditioned, it features 39-foot clear ceilings, 115 loading doors, a full-service cafeteria, and a fitness center for the 800 on-site employees. End
Account Email Address Account Phone Number Disclaimer Report Abuse
|