{"id":3042,"date":"2023-03-13T15:05:13","date_gmt":"2023-03-13T15:05:13","guid":{"rendered":"https:\/\/www.lee-associates.com\/wbe\/?p=3042"},"modified":"2023-03-13T15:06:45","modified_gmt":"2023-03-13T15:06:45","slug":"3042","status":"publish","type":"post","link":"https:\/\/www.lee-associates.com\/wbe\/2023\/03\/13\/3042\/","title":{"rendered":"Marcus Partners adds Middlesex industrial property for $37 million, Lee & Associates says"},"content":{"rendered":"
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A private owner has sold a two-building, 200,000-square-foot industrial property in Middlesex County, brokers with Lee & Associates New Jersey announced Wednesday.<\/p>\n

The buyer, Boston-based Marcus Partners, paid $36.5 million for the multitenant complex at 18-20 Harmrich Road in South Plainfield, according to a news release. The off-market deal provides another addition to the firm\u2019s fast-growing portfolio in New Jersey, with a location that is minutes from Interstate 287 and other highways in the area.<\/p>\n

Lee & Associates Vice President and Principal Rick Marchisio, Vice President and Partner Crista Governara and Partner Drew Maffey represented the seller and procured the buyer.<\/p>\n

\u201cThe New Jersey industrial market is extremely tight, and this is a highly desirable, fully tenanted warehouse property in a submarket that has emerged as a sought-after location for last-mile distribution,\u201d Governara said. \u201cMarcus Partners was looking for a specific investment type, and all the stars aligned to make this an attractive deal in a competitive marketplace.\u201d<\/p>\n

In announcing the deal, the brokerage team said 18-20 Harmrich Road sits on 17 acres and is logistically close to Port Newark-Elizabeth, the New Jersey Turnpike and routes 1 and 9. It also has significant outdoor storage, up to 28-foot clear ceiling heights, ample parking and multiple loading docks.<\/p>\n

\u201cThis company was fantastic to work with, especially Todd Minerly, senior vice president of acquisitions, who helped to bring this deal over the finish line,\u201d Governara added.<\/p>\n<\/div>\n<\/div><\/div><\/div><\/div><\/div>

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MEDIA:<\/strong>
\nBy: Josh Burd
\nREAL ESTATE NEW JERSEY<\/p>\n<\/div>\n<\/div><\/div><\/div><\/div>

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<\/div><\/div><\/div>","protected":false},"excerpt":{"rendered":"

A private owner has sold a two-building, 200,000-square-foot industrial property in Middlesex County, brokers with Lee & Associates New Jersey announced Wednesday. The buyer, Boston-based Marcus Partners, paid $36.5 million for the multitenant complex at 18-20 Harmrich Road in South Plainfield, according to a news release. The off-market deal provides another addition to the firm\u2019s fast-growing portfolio in New Jersey, with a location that is minutes from Interstate 287 and other highways in the area….<\/p>\n","protected":false},"author":167,"featured_media":3044,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-3042","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-press-releases"],"yoast_head":"\nMarcus Partners adds Middlesex industrial property for $37 million, Lee & Associates says - WBE Group<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.lee-associates.com\/wbe\/2023\/03\/13\/3042\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Marcus Partners adds Middlesex industrial property for $37 million, Lee & Associates says\" \/>\n<meta property=\"og:description\" content=\"A private owner has sold a two-building, 200,000-square-foot industrial property in Middlesex County, brokers with Lee & Associates New Jersey announced Wednesday. The buyer, Boston-based Marcus Partners, paid $36.5 million for the multitenant complex at 18-20 Harmrich Road in South Plainfield, according to a news release. 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