Legacy Real Estate Developers, in partnership with Commerce Park Investors and Saddleback Real Estate Developers, has announced the all-cash acquisition of 801 East Edgar Road in Linden.
The transaction marks the third property closed by the Fairfield-based firm within a single 24-hour window, highlighting its capability to execute multiple strategic, fast-paced acquisitions simultaneously.
Situated on 3.7 acres in the heart of the Linden industrial submarket, the property features an 11,704-square-foot office-warehouse building. It sits directly on Routes 1 and 9, offering immediate highway access and proximity to the region’s core transit hubs:
- New Jersey Turnpike (Exit 13): 2.3 miles
- Port Newark and Elizabeth: 6.2 miles
- Newark Liberty International Airport: 8.0 miles
- Goethals Bridge: Just minutes away
The location allows industrial occupiers to efficiently service a population of approximately five million people within a 15-mile radius, making it highly attractive for logistics, warehousing, manufacturing, transportation, and distribution users.
“What attracted us to this opportunity was simple: an exceptional location at a very attractive price,” Peter Feldman, president of Legacy Real Estate Developers, said. “Properties positioned this well don’t become available very often. We see an opportunity to enhance an already strong asset through strategic improvements and active management.”
Legacy and its investment partners intend to implement a series of significant site improvements designed to improve the property’s overall functionality and long-term value for future industrial tenants.
“When you look at the accessibility this property offers, it’s easy to understand why this location is so attractive,” Roy Pascal, principal at Commerce Park Investors, said. “You’re minutes from the ports, the airport, the Turnpike and major highways. Those advantages are difficult to duplicate.”
Salvatore Frassetto, chairman of Saddleback Real Estate Developers, echoed the sentiment regarding the joint venture’s value-add strategy. “Our plans include strategic site improvements that will enhance the property’s functionality while positioning it to meet the evolving needs of industrial users. Together with Saddleback’s President Terry Frassetto, we believe those investments will continue to add value over time.”
The acquisition of 801 East Edgar Road further expands Legacy’s footprint in Northern New Jersey’s highly competitive industrial sector. According to Feldman, the firm is aggressively looking to build on this momentum.
“This acquisition is another step in our continued expansion throughout Northern New Jersey,” Feldman added. “We’re actively pursuing additional opportunities that complement our portfolio and support our long-term growth strategy.”
