EDISON, NJHFF closed the sale of and secured acquisition financing for One Truman Drive South, a 369,313-square-foot industrial warehouse facility in Edison, NJ.  The firm did not disclose the transaction amount, but an industry participant familiar with the transaction tells GlobeSt.com exclusively that it priced at about $63-64 per square foot, or just under $24 million.

HFF marketed the property for the seller, IC/L-A One Truman Drive LLC, wholly owned by affiliates of Lubert-Adler PartnersCohen Asset Management, Inc. and institutional investors advised by J.P. Morgan Asset Management – Global Real Assets purchased the property free and clear of existing debt.  The new owners also retained HFF to secure the fixed-rate loan through Principal Real Estate Investors

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