NAI DiLeo-Bram & Co. arranges $21 million sale of 67,355 s/f industrial building

Linden, NJ NAI DiLeo-Bram & Co. (NAIDB) negotiated the $21 million sale of a 67,355 s/f warehouse/industrial property located at 1900 Lower Rd. NAIDB managing director/principal Christopher Galiano, SIOR, exclusively represented the buyer, Service Truck Tire Center (STTC) in the transaction.

“In a market where owner/occupiers have been virtually shutout of warehouse, distribution and manufacturing acquisition opportunities during the course of the last 12 months, NAIDB was able to secure this rare-to-market New Jersey/New York Metro investment asset on behalf of our long-standing client, Service Truck Tire Center,” said Galiano.

Situated on over six acres between East Lincoln Ave. and Avenue C, offering direct access to U.S. Rte. 1, 1900 Lower Rd. is located adjacent to an Amazon Fulfillment Center. Property features include an all-concrete-block façade, 175 on-site paved-surface parking spaces, multiple loading areas and newly renovated office space with a complete rooftop solar system.

Since being built in 1960, 1900 Lower Rd. has been the home base for Turtle & Hughes, one of the nation’s largest independent electrical and industrial distribution companies and the building’s sole occupier for the past 60 years.

According to Galiano, STTC plans to renovate the property to accommodate its future growth initiatives. The family owned company, which was founded in 1955, previously occupied 36,000 s/f in nearby Avenel, which is being marketed by Galiano for sublease.

“As a long-time important logistics hub given its strategic location on the East Coast, the Elizabeth/Linden industrial submarket and its warehouse/distribution assets stand out for their consistent, strong performance – which is exactly what attracts and retains companies like STTC,” said Galiano. “And thanks to our command of local, regional and national logistics and distribution corridors, we were able to facilitate this industrial-property transaction and achieve our client’s objectives.”