California Firm Acquires Woodbridge, NJ, Industrial Facility
“Originally only available for lease, we were able to negotiate an off-market sale that closed in record time,” says CBRE's Wiliam Waxman.
WOODBRIDGE, NJ—California-based Seville Gateway Investments has acquired a 133,032-square-foot industrial facility at 100 Crows Mill Road in Keasbey, NJ, an unincorporated community within Woodbridge Township, for $18.624 million.
The CBRE team of William Waxman, Mindy Lissner, Steven I. Beyda and Robert Pine negotiated the transaction on behalf of the seller, TA Realty. CBRE vice president Dorothy Chuang represented Seville Gateway Investments.
“Originally only available for lease, we were able to negotiate an off-market sale that closed in record time,” says Waxman. “Located in Los Angeles, Seville Gateway was interested in a facility in the New Jersey area that was in close proximity to the Port to better service its Northeast operations. 100 Crows Mill Road offers the new ownership truly unparalleled access to all the local waterways and airports, as well as an excellent labor pool.”
Built in 1971, 100 Crows Mill Road is at the crossroads of the New Jersey Turnpike, Route 440, Interstate 287, Route 1/9, Route 35 and the Garden State Parkway. The property was recently renovated and offers on-site trailer parking, LED lighting with motion sensors and access to one of the most affluent consumer markets in the region. It is near local FedEx and UPS hubs, hotels, restaurants, child care facilities, sports parks and the New Jersey Convention & Exposition Center.