The Lee & Associates – WBE New Jersey office successfully facilitated the $19.4 million off-market sale of two industrial buildings in Piscataway. The properties, located at 121 & 131 Ethel Road West and totaling 101,454 square feet, were acquired by Longpoint from a private investor who had owned them for 25 years.
Drew Maffey and Joseph Komitor of Lee & Associates represented Longpoint in the transaction. The buildings are fully leased to a diverse group of tenants, including those in distribution, warehousing, food production, and research and development.
Maffey noted the strong interest in this type of asset, calling small-bay industrial properties the “sweet spot” in today’s real estate climate. The buildings’ desirable location, with proximity to I-287 and the New Jersey Turnpike, was a particularly attractive feature for the buyer.
Rob Delaney, Longpoint’s head of acquisitions for the region, confirmed the company’s commitment to expanding its presence in Northern New Jersey. He highlighted the buildings as a “difficult-to-replicate asset” that aligns with Longpoint’s strategy of acquiring high-quality real estate in key markets.
Lee & Associates is a leading commercial real estate services firm with more than 80 offices across North America. The firm specializes in delivering innovative solutions and expertise to clients through its local teams, like the one in New Jersey.
