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Bridge Industrial Buys Class-A Industrial Property in NJ
Bridge Industrial, a private vertically integrated real estate operating company and investment manager, has announced its acquisition of 230 Belmont Drive, a newly constructed, 152,175-square-foot Class A industrial property located in Somerset, New Jersey.
Upon acquisition, the newly constructed property was already move-in ready, with fully built-out office space and bathrooms. Bridge also secured a tenant – a large packaging company – which will immediately begin occupying the space. Charles Fern of Cushman Wakefield represented the tenant in the lease transaction.
Bridge has acquired over 2.4 million square feet of Class A industrial space in the market in the past year. In December 2021, Bridge completed its first acquisition under its value-add strategy by launching the purchase of Pompano Beach Commerce Park – an industrial campus consisting of three buildings and covering an area of 336,852 square feet in Pompano Beach, Florida.
