Lincoln Equities, PGIM Buys 48-Acre Hamilton Industrial Site
Lincoln Equities Group and PGIM have acquired 861 Sloan Avenue, a 48.1-acre development site in Hamilton, NJ., from Manchester 270 Development. The price was not disclosed.
The site has received site plan approval for a 420,000-square-foot development, and the project is expected to be completed in 24 months. Cushman & Wakefield’s Robert Rudin, Gary Gabriel, Kyle Schmidt, David Bernhaut and Seth Zuidema represented the seller and procured the buyers.
“This site provided a variety of redevelopment options given its size, scale, zoning and proximity to Interstates 95 and 295,” said Schmidt. “Lincoln Equities Group and PGIM have proven to be one of the state’s most successful development partnerships. The purchasers leveraged Lincoln Equities’ extensive local market knowledge as former owner of the adjacent American Metro Center, enabling the partnership to navigate this complex transaction,” added Gabriel.
Emily Fu is Content Director of Connect Commercial Real Estate, where she covers the east coast markets, including New York, Boston & New England, and DC & Mid-Atlantic markets. She produces daily news stories as well as longer-form content, ranging from Q&As to thought-leadership pieces. She also writes feature stories for Connect Money.
With previous stints at Reuters, Seeking Alpha, and Commercial Observer, Emily has covered the finance side of the commercial real estate industry, technology, media, telecom (TMT), and fashion. She attended the Columbia Graduate School of Journalism and currently resides in Manhattan.