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Property Reserve Nabs Fully Leased Warehouse at NJ Turnpike Exit 8A
CBRE arranged the sale of Eastpoint at Exit 8A, a 450,330-square-foot industrial facility centrally located between New York City, Philadelphia and Central New Jersey at 1065 Cranbury South River Rd. in Monroe Township, NJ. Property Reserve Inc. acquired the asset from Morgan Stanley at an undisclosed price.
CBRE’s Brian Fiumara and Brad Ruppel led the team overseeing the marketing campaign and procured the buyer.
“Eastpoint at Exit 8A is one of the best logistics facilities in the region offering direct access to the densest consumer base in the U.S. and supported by world-class transportation,” said Fiumara. “Fully occupied by a global, publicly traded company with a recently executed lease renewal in place makes the property ideally positioned and provided Property Reserve with a one-of-a-kind investment opportunity.”
The property is 100% leased to Iron Mountain Information Management LLC, a wholly owned subsidiary of Iron Mountain.
- ◦Sale/Acquisition
