The Northern New Jersey industrial market is the third largest industrial market in the U.S. with nearly 900 million square feet of industrial inventory. In June 2014 TDC acquired two existing industrial properties totaling 257,248 square feet on nearly 19.5 acres in this area.
The business plan upon acquisition was to retain the existing warehouse/distribution facility and demolish the other building, which had been used as a bakery, to make way for a new 190,000 square foot high bay warehouse. The manufacturing facility was built in 1968 with a major addition completed in 2000.
The market is in very high demand both from users seeking to distribute goods to the New York City metropolitan area and from institutional investors looking to place capital into an attractive market. The acquisition creates the opportunity for TDC to deliver a high quality warehouse property in a market that has seen rising tenant demand and limited comparable new properties.
BOSTON, MA
125 High Street, Suite 2111
Boston, MA 02110
TEL: 617.451.1300
NEW YORK, NY
55 Fifth Ave, Suite 1803
New York, NY 10003
Davis | © 2023 All Rights Reserved