The property, which sits on 4.4 acres, was built in 1981 and features seven loading docks, high ceilings, heavy power and modern offices. The buyer, a private investor, concurrently executed a long-term lease with American Food and Export Service, a food packaging company that is relocating and expanding its operation from South Plainfield. Jordan Metz, vice president at Bussel, negotiated both the purchase and the new lease. He could not disclose the lease rate.
According to Metz, "It's a modern facility, has excellent loading capabilities, an abundance of land and an excellent location that provides immediate access to major transportation arteries and the port. This sale is a testament to the fact that choice properties will trade in any economic climate."
Bussel has also been named the exclusive broker for nearby 24 Mileed Way in Avenel. This property consists of 65,000 square feet with loading capabilities, high ceilings and office space. Metz will be handling the sale of the property.
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