PISCATAWAY, NJ–GTJ REIT, a public non-traded real estate investment trust based in West Hempstead, NY, has paid $63.77 million for a portfolio of six industrial buildings in Piscataway, NJ. The facility is 100% leased by seven different long-standing tenants, including Nomura Securities and Verizon.
The portfolio purchase consists of six buildings with an aggregate square footage of 681,754 in Piscataway, NJ. Melissa Sheer, president of Kent Place Communications, a public relations firm representing GTJ, says the properties are located at: 4 Corporate Place, 8 Corporate Place, 25 Corporate Place South, 11 Constitution Avenue, 21 Constitution Avenue and 1110 Centennial Avenue in Piscataway.
The properties are centrally located immediately off exits 6 and 7 of Interstate 287. The buildings sit in a redundant power grid with two separate and distinct power sources, affording tenants with backup power in times of emergency. The properties are located in the Route 287 submarket – a market that consists of 1,143 buildings with 101.2 million square feet of industrial/manufacturing space.
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Steve Lubetkin
Steve Lubetkin is the New Jersey and Philadelphia editor for GlobeSt.com. He is currently filling in covering Chicago and Midwest markets until a new permanent editor is named. He previously filled in covering Atlanta. Steve’s journalism background includes print and broadcast reporting for NJ news organizations. His audio and video work for GlobeSt.com has been honored by the Garden State Journalists Association, and he has also been recognized for video by the New Jersey Chapter of the Society of Professional Journalists. He has produced audio podcasts on CRE topics for the NAR Commercial Division and the CCIM Institute. Steve has also served (from August 2017 to March 2018) as national broadcast news correspondent for CEOReport.com, a news website focused on practical advice for senior executives in small- and medium-sized companies. Steve also reports on-camera and covers conferences for NJSpotlight.com, a public policy news coverage website focused on New Jersey government and industry; and for clients of StateBroadcastNews.com, a division of The Lubetkin Media Companies LLC. Steve has been the computer columnist for the Jewish Community Voice of Southern New Jersey, since 1996. Steve is co-author, with Toronto-based podcasting pioneer Donna Papacosta, of the book, The Business of Podcasting: How to Take Your Podcasting Passion from the Personal to the Professional. You can email Steve at [email protected].
