New York & Tri-State + New Jersey + Industrial | September 11, 2023

Monroe Township Industrial Property Sold for $54M

GLP Capital Partners has acquired 34 Engelhard Drive, a 203,000-square-foot industrial property in Monroe Township, NJ., for $53.8 million from Clarion Partners. Constructed in 1980, 34 Engelhard Drive occupies a 12-acre site with access to I-95.

CBRE’s Brian Fiumara led the marketing campaign and represented the seller in the negotiations. “New Jersey’s industrial market continues to show incredible resilience despite some economic headwinds,” said Fiumara. “This transaction is indicative of strength of the sector, especially for well-located warehouse/distribution facilities that meet continued robust demand.”

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Brian Fiumara

About Emily Fu

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.

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