Dalfen Industrial has acquired 401 Cottontail, a newly constructed 99,714-square-foot industrial building located in Somerset, NJ. The property is situated less than 15 miles to Exit 10 of the New Jersey Turnpike and 35 miles to the New Jersey ports – some of the busiest container terminals on the East Coast. This off-market acquisition was sourced by Joel Lubin and Gary Politi from JLL.
Shortly after its purchase Dalfen leased out all premises to Scentbird Inc., a fragrance subscription service company with Chuck Fern from Cushman & Wakefield representing them as tenant representative.
Michael Cohen, head of acquisitions for Dalfen expressed his excitement over this value add acquisition: “This property makes an attractive option for tenants due to its strategic infill location and is thus a great addition our portfolio” He further added that they intend on continuing their last mile properties development in this market soon enough.
