The seller was the locally based Mount Olive Industrial Realty Co., which was represented by brokers from the Florham Park office of Trammell Crow Co. Involved in the deal were Leo Paytas, senior vice president, Mitchell Katz, vice president and Neil Heinze, a senior associate with the firm.
The just-sold asset is within the 300-acre New Jersey Foreign-Trade Zone at the International Trade Center here. The larger ITC is a 684-acre, seven-million-sf mixed-use campus. Current tenants at 500 International Dr. include Alterna Mortgage Co., Geode Electronics, ZON Re, information services firm BRG Insights, and Rockefeller Group Development Corp. The latter is the master developer of the ITC.
TCC also has the exclusive leasing and property management assignment for the Trade Zone portion of the ITC. "We are pleased to report continued strong leasing activity in the Trade Zone," Paytas says.
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