Sportswear Manufacturer in Sale-Leaseback of 318K SF South Brunswick Industrial
Central Mills, which operates as FREEZE, will continue to occupy the facility under a long-term sale-leaseback arrangement.
SOUTH BRUNSWICK, NJ—Sportswear manufacturer Central Mills structured a sale-leaseback of 473 Ridge Road in South Brunswick. Cushman & Wakefield arranged the sale of the 318,389-square-foot warehouse/distribution facility to Saadia Group. The property also includes 38,207 square feet of office space, offers expansion potential and is located on a 28-acre parcel in the heart of New Jersey’s active Exit 8A market.
“This well-positioned property and building offers unique accessibility to major markets, along with the possibility of expansion,” says Cushman & Wakefield’s Gary Gabriel from the firm’s investment sales team in East Rutherford, who led the assignment with David W. Bernhaut, Andrew Merin, Brian Whitmer, Kyle Schmidt, Andrew Schwartz, and Ryan Larkin, with the help of local leasing broker Chuck Fern.
The location provides easy access to the New Jersey Turnpike/I-95, I-287, I-78, and US Routes 1, 9 and 130. About 45 miles southwest of Manhattan and 60 miles northeast of Philadelphia, the location places nearly 60 million customers within a five-hour drive. Central Mills, which operates as FREEZE, will continue to occupy the facility under a long-term sale-leaseback arrangement.
“The e-commerce boom continues to spur demand among logistics and other last-mile delivery companies for space in the 8a industrial market,” says Kyle Schmidt. “This well-positioned location ensures easy access to the mass population around the New York Metro area and the inland distribution markets. 473 Ridge Road offers attractive features like clear height of up to 28 feet, with 20 trailer spaces and 582 spaces for automobiles, and 25 exterior tailgates with six interior tailgates and a drive-in door.”