Thank you for sharing!

Your article was successfully shared with the contacts you provided.

FRANKLIN TWP., NJ-Baker Properties has acquired two industrial buildings from RREEF, adding up to a total of 231,000 square feet. The pick-up by the Pleasantville, NY-based Baker consists of 500 Memorial Dr., a 148,598-square-foot building here, and 400 Commons Way, an 83,028-square-foot asset to the north in Rockaway, NJ.

The deal was orchestrated by Jose Cruz, Andrew Merin, David Bernhaut and Gary Gabriel, all of Cushman & Wakefield’s Metropolitan Area Capital Markets Group. The sale price was not disclosed.

“We received a number of competitive bids for this offering,” Cruz says. “Despite the challenging economy and financing climate, we’re finding that demand for well-located industrial assets remains significant.”

Locally, the building at 500 Memorial Dr. sits on just more than 11 acres near the Easton Ave. interchange with Interstate 287. And the high tech/flex 400 Commons Way in Rockaway sits on nearly 16 acres near Exit 37 of Interstate 80. The two buildings were fully leased at the time of sale, with major tenants including custom countertops maker ALPS Technologies at 500 Memorial Dr. and retailer Party City at 400 Commons Way.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.