Silverman Group Acquires 21 Worlds Fair Drive in Somerset, NJ
The Silverman Group is buying a 41,000-square-foot, mixed-use warehouse building from the tenant for $3.6 million and has selected JLL as the exclusive leasing agent for the property.
SOMERSET, NJ—The Silverman Group has acquired 21 Worlds Fair Drive in Somerset, NJ, a 41,000-square-foot mixed-use warehouse, for $3.6 million. Silverman Group selected Jones Lang LaSalle, which brokered the sale transaction, to serve as exclusive leasing agent for the property.
The tenant and Silverman were represented by Chad Hillyer, managing director; Brian Golden, executive vice president; and Tyler Baker, senior associate, all with JLL.
“This was a unique opportunity for The Silverman Group,” says Hillyer. “The market for New Jersey industrial real estate has appreciated greatly, and Silverman was able to leverage its ability to execute on a tight time frame, to acquire a valuable asset as well as expand their growing industrial portfolio Silverman is now looking to lease 21 Worlds Fair Drive to one or two tenants. The property is ideal for warehouse and distribution, and light manufacturing, and the office space has high-end finishes.
The property includes approximately 11,215 square feet of office space, and the warehouse potion offers an 18-foot ceiling height, 30-foot by 30-foot column spacing, five loading docks and one drive-in door.
“We are very excited about this recent acquisition and look forward to working with the JLL team on this assignment”, says Toby Nelson, vice president of leasing, for The Silverman Group.