Construction on the asset is about half finished, according toEugene A. Preston, senior vice president of development for RGDC.Located on a 25-acre site along 260 Prospect Plains Rd., thebuilding is within the seller's 240-acre Rockefeller Group ForeignTrade Zone/8A industrial park. The site is near Exit 8A of the NewJersey Turnpike, which lends its designation to one of thecountry's solidest industrial submarkets.

The buyer was represented by Paul Torosian and Karen Iman ofTrammell Crow Co. Stan Danzig and Jules Nissim of Cushman &Wakefield of New Jersey represented the seller. Details of thetransaction, including the purchase price, were not disclosed.However, various industry sources estimate that the building tradedfor between $12 million and $15 million.

The building itself is on the market for lease, and is expectedto be completed and ready for occupancy by April. Corporateneighbors include Pearson Education and Crate and Barrel, both ofwhich have major warehouse and distribution centers nearby.