(Read more on the industrial market.)
WOODBRIDGE, NJ-Pantheon Properties has acquired 1500 RahwayAve., a 325,000-sf industrial building in the Avenel section ofthis Middlesex County township. The seller was WoodbridgeEnterprises LP, a local group. The sale price was notdisclosed.
For the New York City-based Pantheon, the pick-up is a value-addplay. While much of the existing building is leased to shippinggiant Maersk's Hudd Distribution Services division, the facility isexpandable to 500,000 sf either as an extension of the currentfacility or a new separate building.
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