Highland Park-based Menlo Executive Associates has purchased an industrial warehouse and distribution facility at 80 Executive Avenue in Edison for $18.2 million from Carteret-based Fujipoly America.
The deal for the 50,400-square-foot institutional-grade facility in Central New Jersey’s business corridors was orchestrated by Woodbridge-based NAI DiLeo-Bram & Co.
The limited supply of Class-A industrial buildings available for sale in this size category was a key selling point, according to a release.
“This property drew significant interest from our client from the outset due to its prime location within one of Central New Jersey’s most established business corridors,” Robert DiLeo said. “With a limited supply of Class-A industrial buildings available for sale in this size category, Fujipoly America secured a strategic asset for their future. The company intends to invest millions of dollars into the site, transforming the facility into its U.S. corporate headquarters.”
Menlo said it intends to invest millions of dollars into the site, converting it into its U.S. corporate headquarters.
The 2020 property is accessible via Exit 10 of the New Jersey Turnpike (4 miles) and the Outerbridge Crossing (10.5 miles).
Robert V. DiLeo, who was part of the brokerage team on the transaction, told BINJE, “80 Executive offers prime access to the New Jersey Turnpike and is minutes from Newark Liberty International Airport and the Port Newark–Elizabeth Marine Terminal—positioning it within one of New Jersey’s most strategic logistics corridors,” providing a direct pipeline to New York City metropolitan markets.
The facility features 3,000 square feet of first-floor office space and a 3,000 square-foot mezzanine. High-velocity loading is supported by five dock doors (expandable to eight) and one drive-in door.
Inside, there is 32-foot ceiling clearance, 50-foot x 50-foot column spacing, an ESFR sprinkler system, and heavy power (1,200 amps). The site accommodates 25+ vehicle parking spaces and six trailer-parking positions.
This region has more than $5.8 trillion in economic output and rapid access to over 38 million consumers within a two-hour drive.
Other members of the NAIDB brokerage team included Vice President Kyle Gerace, Associate Vice President Robert V. DiLeo, and Vice President Chris Chiusolo.
