Stag Industrial Pays $27M for New Jersey Warehouse

100 New England Ave. Image courtesy of JLL

Stag Industrial has purchased a 101,381-square-foot industrial facility in Piscataway, N.J., for $26.5 million, Middlesex County public records show. JLL Capital Markets arranged the sale-leaseback ton behalf of the seller, Strato Inc., which has owned the asset since 2004, according to CommercialEdge data.

The single-story property is located at 100 New England Ave. and features one drive-in door and six loading docks, 24-foot clear heights, ESFR fire sprinkler systems, a 120-foot truck court and 76 parking spots. The facility is fully occupied by two tenants, Strato and The Hose Shop, according to CommercialEdge.

Situated on an 8-acre lot, the warehouse is close to interstates 287 and 95, 16 miles from Linden, N.J., 29 miles from Port Newark, 24 miles from Newark Liberty International Airport and within 32 miles of Jersey City, N.J.

JLL Capital Markets Executive Managing Director Frank Recine, Managing Directors Marc Duval and Jordan Avanzato, Senior Managing Director Jose Cruz and Directors Nicholas Stefans and Jason Lundy represented the seller.

According to recent CommercialEdge data, New Jersey led the Northeast region in terms of industrial vacancy rates, construction pipeline volume and sales, with year-to-date sales at $345 million as of March.

Recent deals in the area include Hines’ acquisition of Newark Distribution Center, a three-property industrial portfolio totaling 738,000 square feet in Newark, N.J. Turnbridge Equities and Long Wharf Capital sold the asset for $127.4 million.