**Longpoint Expands in Northern New Jersey with $19.4M Industrial Acquisition**
Lee & Associates – WBE has successfully arranged the $19.4 million off-market sale of two industrial buildings located at 121 and 131 Ethel Road West in Piscataway, New Jersey. The properties, which total 101,454 square feet, were acquired by Longpoint from a private investor who had owned the assets for 25 years.
Drew Maffey and Joseph Komitor of Lee WBE represented Longpoint in the transaction. Both buildings are 100% leased to a mix of tenants operating across various sectors, including distribution, warehousing, food production, and research and development.
“Small-bay product is seeing high demand in New Jersey from investors and tenants alike – it’s the industry’s ‘sweet spot’ in today’s climate,” stated Maffey. “This combination of asset size and location was particularly desirable.”
Rob Delaney, Longpoint’s head of acquisitions for the region, added, “Longpoint continues to expand its presence in Northern New Jersey. This difficult-to-replicate asset and its location, with proximity to I-287 and the New Jersey Turnpike, were particularly attractive.”
The sale signifies Longpoint’s continued commitment to establishing a strong foothold in the competitive industrial real estate market of Northern New Jersey.
