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The park is in close proximity to George Bush Intercontinental Airport, Interstate 45 and Interstate 59 and its vacant spaces have grade-level, semi-dock and/or dock-high loading.
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The New Jersey companies that participate in the initiative will gain access to international partners and to research and development funds from an Israeli company and the Israel Innovation Authority.
The firm sold the two properties after expanding into new facilities, according to Newmark Knight Frank, which represented the seller in the transaction.
The joint venture partners state their total investment in the properties, including the purchase price and planned capital improvements, will exceed $100 million.