The tenant was represented by George P. Molloy, president of GM Realty Advisors Inc. of Hillsborough, and Jack Britten of Bradford Commercial Realty, Dallas. The owner was represented by Charles Klatskin, chairman of Binswanger/Klatskin, Teterboro, and by Catherine Argenio of the Cranbury-based Forsgate Partners. The terms of the transaction were not disclosed.
"Cardinal was able to identify, negotiate and retrofit the premises, re-certify the rail line onto the site, and be operable within a 90-day period," Molloy says. "The deal was very complex." The Forsgate Industrial Complex, which encompasses a total of 3.4 million sf of space, most of it warehousing and distribution, is located in the New Jersey Turnpike Exit 8A submarket.
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