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Dalfen Industrial Makes First Central NJ Acquisition, Then Leases It Up
Dalfen Industrial has acquired 401 Cottontail, a newly constructed, 99,714-square-foot industrial building located in Somerset, NJ, less than 15 miles to Exit 10 of the New Jersey Turnpike and 35 miles to the New Jersey ports, the busiest container terminals on the East Coast. The building acquisition was sourced off-market by Joel Lubin and Gary Politi of JLL.
Shortly after its acquisition, Dalfen leased the entire premises to Scentbird, Inc., a fragrance subscription service company. Chuck Fern with Cushman & Wakefield represented the tenant.
“Dalfen is excited to announce its first value-add acquisition in Central New Jersey. Acquiring a new industrial property in a submarket with a strategic infill location makes this property an attractive option for tenants and a great addition to our portfolio,” said Michael Cohen, head of acquisitions for Dalfen. “We intend to continue acquiring and developing last mile properties in this market in the near future.”
- ◦Lease
- ◦Sale/Acquisition
