crefeed.com | JV acquires New Jersey industrial property

1/7/2008

JV acquires New Jersey industrial property

3775 Park Ave.

A joint venture between Hampshire Companies and Tulfra Realty Co. has acquired a 507,400 square foot warehouse manufacturing property in Edison, N.J., from L.A. Dreyfus Co.

James Frank, Jose Cruz, Andrew Merin, David Bernhaut and Gary Gabriel of Cushman & Wakefield's Metropolitan Area Capital Markets Group brokered the deal.

The building is located at 3775 Park Ave. and sits on 50 acres near the intersection of Oak Tree Road. L.A. Dreyfus, a confectionary products manufacturer, has occupied the building since its completion in 1948. It moved out after its parent company, Wrigley, moved the company's headquarters and manufacturing operations to Gainesville, Ga.

The building includes executive offices and was expanded in 1967 and 1978. The joint venture plans to market the property as industrial condominiums ranging in size from 20,000 square feet up to 100,000 square feet.

Edison is located approximately 23 miles south of Newark and has a population of 97,687 people.

Address: 3775 Park Ave., Edison, N.J.

Size: 507,400 square feet

Built: 1948

Filed Under: Industrial

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