Marcus Partners Increases Industrial Portfolio in New Jersey
Portfolio Adds +/- 200,000 Square Feet to Existing Holdings
MARCUS PARTNERS, a real estate investment, management and development firm, today announced the acquisition of 20 Harmich Road in South Plainfield, New Jersey totaling +/-200,000 square feet. The acquisition consists of two warehouse properties situated on 17 acres.
“20 Harmich Road is a highly desirable high-quality product with an abundance of IOS (Industrial Outdoor Storage) close to the port and is a valuable addition to our growing New Jersey portfolio. This acquisition provides immediate cash flow, solid tenants, and a value-add component; and aligns well with our existing properties from Boston to Washington DC,” said Todd Minerley, Senior Vice President at Marcus Partners. “Demand remains very strong for high ceiling, functional warehouse space and additional outside storage capacity makes this property very attractive to the marketplace. Our ability to close the deal in a challenging market is an enormous advantage in times of uncertainty.”
The 17-acre site consists of approximately 200,000 of industrial space located a few miles from I-287 in South Plainfield New Jersey. These industrial properties are strategically located in the heart of one of the most densely populated industrial corridors in Northern New Jersey. The two buildings offer 26′-28’ clear ceiling heights, great parking, market loading ratios and significant outdoor storage.
Crista Governara and Drew Maffey of Lee and Associates provided critical representation to Marcus Partners in the transaction.
About Marcus Partners
Marcus Partners is a vertically integrated real estate firm with a strong history of successful investment, management and development. The firm is headquartered in Boston, with regional offices in Metro New York City and Metro Washington, D.C. The firm focuses on strategic and opportunistic investment strategies across multifamily, industrial, life science and other property types where it can create value and maximize risk-adjusted returns. Marcus Partners and its affiliates owns, operates or is developing 6M+ square feet of real estate and 1,500+ multifamily units. For more information, please visit WWW.MARCUSPARTNERS.COM.
August 2022