CBRE on Tuesday announced that it arranged the sale of a 5.2-acre industrial outdoor storage (IOS) property located at 945 Route 27 in Somerset, to Jadian IOS, a vertically integrated owner and operator specializing in the sector. CBRE represented both the buyer and the seller in the transaction.
The CBRE team representing the transaction was led by Mark Silverman, Liam McGregor and Elli Klapper.
The property includes more than five acres of functional outdoor parking and storage area, as well as an on-site maintenance facility and office building. The acquisition expands Jadian IOS’s national portfolio of properties located within major industrial corridors.
The marketing process for the site generated multiple offers. Jadian moved to secure the asset ahead of the formal call-for-offers date, working alongside the seller and CBRE to navigate local zoning requirements. The transaction structure allowed time for Jadian to secure the necessary variance and site plan approvals from Franklin Township to redevelop the property for continued IOS use.
“Navigating the zoning variance and site plan approval process in Franklin Township required creativity and patience from everyone at the table,” Silverman said. “The result is a well-positioned addition to Jadian’s growing national IOS portfolio.”
“This deal is a direct reflection of their ability to execute complex opportunities throughout New Jersey’s industrial market,” McGregor added, noting that the transaction highlights Jadian IOS’s continued expansion in the sector.
