RCG Realty LLC has purchased 740 Lloyd Road in Aberdeen, a 6-acre industrial outdoor storage property with six warehouse and maintenance facilities totaling 30,000 square feet, for $6,350,000, it was announced Monday.
The deal, brokered on both sides by the Metz Industrial Group of Bussel Realty Corp., completes a tax-deferred 1031 exchange for RCG Realty following its sale of a 4.8-acre industrial outdoor storage property at 1200 Springfield Road in Union — a transaction where Metz Industrial Group also represented RCG. By coordinating the disposition and identifying a replacement asset that met the exchange requirements, the brokerage enabled RCG to reinvest the proceeds directly into the Aberdeen property.
The seller was Keynet Aberdeen LLC, a New Jersey-based real estate ownership entity focused on industrial assets.
The Metz Industrial Group team on the deal was led by Jordan Metz, principal, along with Benito Abbate, senior associate, and James Friel, sales associate. The firm will also handle leasing at the property going forward, positioning it as an industrial outdoor storage option for businesses in need of functional space, while ownership invests in further improvements.
“Industrial outdoor storage properties continue to attract significant investment interest as users and investors compete for a limited supply of well-located assets throughout New Jersey,” Metz said.
“The successful execution of this 1031 exchange demonstrates the continued appeal of functional IOS properties that offer immediate utility, strong transportation access, and long-term value. With available inventory remaining constrained, strategically located assets like 740 Lloyd Road continue to be highly sought after by both private investors and owner-operators.”
The 6-acre property includes paved and illuminated outdoor storage and parking space alongside the six maintenance and warehouse buildings. It offers direct access to Route 35 and the Garden State Parkway and sits roughly 30 miles from Newark Liberty International Airport and Port Newark-Elizabeth.
