{"id":1004704027,"date":"2024-02-29T00:50:23","date_gmt":"2024-02-29T08:50:23","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004704027"},"modified":"2024-02-29T00:52:28","modified_gmt":"2024-02-29T08:52:28","slug":"invesco-pays-55m-for-new-jersey-industrial-asset","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/invesco-pays-55m-for-new-jersey-industrial-asset\/","title":{"rendered":"Invesco Pays $55M for New Jersey Industrial Asset"},"content":{"rendered":"\n<p><strong>Invesco Real Estate<\/strong> has purchased 152 Ridge Road, a 216,000-square-foot industrial building in South Brunswick Township, N.J. The asset traded for $55 million, according to public records.<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure data-wp-context=\"{&quot;imageId&quot;:&quot;6a10a7341463d&quot;}\" data-wp-interactive=\"core\/image\" class=\"alignright size-medium is-resized wp-lightbox-container\"><img loading=\"lazy\" decoding=\"async\" data-attachment-id=\"1004704030\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/invesco-pays-55m-for-new-jersey-industrial-asset\/152-ridge-road-sm\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/02\/152-ridge-road-sm-e1709123733232.png\" data-orig-size=\"732,550\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"152-ridge-road-sm\" data-image-description=\"&lt;p&gt;The 152 Ridge Road industrial facility sits on some 13 acres. Image courtesy of JLL Capital Markets&lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;The 152 Ridge Road industrial facility sits on some 13 acres. Image courtesy of JLL Capital Markets&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/02\/152-ridge-road-sm-e1709123733232.png?w=732\" data-wp-class--hide=\"state.isContentHidden\" data-wp-class--show=\"state.isContentVisible\" data-wp-init=\"callbacks.setButtonStyles\" data-wp-on-async--click=\"actions.showLightbox\" data-wp-on-async--load=\"callbacks.setButtonStyles\" data-wp-on-async-window--resize=\"callbacks.setButtonStyles\" height=\"225\" width=\"300\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/02\/152-ridge-road-sm-e1709123733232.png?w=300\" alt=\"152 Ridge Road\" class=\"wp-image-1004704030\" style=\"width:306px;height:auto\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/02\/152-ridge-road-sm-e1709123733232.png 732w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/02\/152-ridge-road-sm-e1709123733232.png?resize=300,225 300w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><button\n\t\t\tclass=\"lightbox-trigger\"\n\t\t\ttype=\"button\"\n\t\t\taria-haspopup=\"dialog\"\n\t\t\taria-label=\"Enlarge\"\n\t\t\tdata-wp-init=\"callbacks.initTriggerButton\"\n\t\t\tdata-wp-on-async--click=\"actions.showLightbox\"\n\t\t\tdata-wp-style--right=\"state.imageButtonRight\"\n\t\t\tdata-wp-style--top=\"state.imageButtonTop\"\n\t\t>\n\t\t\t<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"12\" height=\"12\" fill=\"none\" viewBox=\"0 0 12 12\">\n\t\t\t\t<path fill=\"#fff\" d=\"M2 0a2 2 0 0 0-2 2v2h1.5V2a.5.5 0 0 1 .5-.5h2V0H2Zm2 10.5H2a.5.5 0 0 1-.5-.5V8H0v2a2 2 0 0 0 2 2h2v-1.5ZM8 12v-1.5h2a.5.5 0 0 0 .5-.5V8H12v2a2 2 0 0 1-2 2H8Zm2-12a2 2 0 0 1 2 2v2h-1.5V2a.5.5 0 0 0-.5-.5H8V0h2Z\" \/>\n\t\t\t<\/svg>\n\t\t<\/button><figcaption class=\"wp-element-caption\">The 152 Ridge Road industrial facility sits on some 13 acres.<em> Image courtesy of JLL Capital Markets<\/em><\/figcaption><\/figure><\/div>\n\n\n<p>The property last traded in 2018 when <strong>Jay Franco &amp; Sons<\/strong> sold it for $22 million, according to CommercialEdge data.<\/p>\n\n\n\n<p>Built in 1991, the warehouse and distribution facility features 33 loading doors, 30-foot clear heights, insulated ceilings, ESFR fire sprinklers, solar panels and approximately 125 parking spaces.<\/p>\n\n\n\n<p>At the time of the sale, the building was fully leased to Five Star Warehouse, a third-party logistics company.<\/p>\n\n\n\n<p><strong>JLL Capital Markets<\/strong> brokered the transaction, with Managing Directors Jordan Avanzato and Marc Duval, Directors Nicholas Stefans and Jason Lundy, Senior Managing Director Jose Cruz and Associate Conor Walsh leading the JLL team.<\/p>\n\n\n\n<p>Located in the New Jersey\u2019s Cranbury submarket, 152 Ridge Road is close to Interstate 95, which allows easy access to the Philadelphia and New York City metropolitan areas.<\/p>\n\n\n\n<p>New Jersey ranked fourth for industrial transactions nationwide last year, according to a <a href=\"https:\/\/www.commercialedge.com\/blog\/national-industrial-report-january-2024\/\" target=\"_blank\" rel=\"noreferrer noopener\">recent CommercialEdge report<\/a>. A total of $2.7 billion was generated, with assets trading at $218 per square foot on average, significantly above the nation&#8217;s $129.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>A third-party logistics company is the sole tenant.<\/p>\n","protected":false},"author":3014,"featured_media":1004704030,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21748,21783,21742,10],"tags":[33882,32796],"class_list":["post-1004704027","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-industrial","category-investment","category-latest","category-northeast","tag-invesco-real-estate","tag-jll"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Invesco Pays $55M for New Jersey Industrial Asset - 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