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Logistics Firm Buys Clifton Warehouse to Grow In
Logistics firm Shawnee Transportation, headquartered in Lancaster, PA, has acquired 50 Somerset Pl., a 121,000-square-foot industrial building in Clifton, NJ, from JRAM Investment Company. Deals terms were not disclosed.
NAI James E. Hanson’s Scott K. Perkins, Andrew Somple, Christopher Todd and Justin Allessio represented Shawnee in the acquisition. Lee & Associates’ Richard Marchisio, Scott Deutchman and Troy Wisse represented JRAM.
Shawnee sought a northern New Jersey warehouse that would meet its current and future space needs, while also providing parking for its large fleet of trucks. “Shawnee’s unique requirements and the lack of product available on the market added another layer of complexity to our negotiations,” said Allessio.
50 Somerset’s new owner plans to initially occupy 60,000 square feet and lease out the remainder. The company has retained Perkins to spearhead leasing at the property.
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- ◦Sale/Acquisition
