Bluewater Property Group and Affinius Capital have sold West Essex Logistics Center, a 293,887-square-foot industrial property in Livingston, New Jersey to Invesco Real Estate. The facility located at 8 Peach Tree Hill Road was formerly the headquarters of CIT Bank and has undergone redevelopment into a Class A logistics facility featuring 36-foot clear heights, 54 loading docks and two drive-in doors.
Cushman & Wakefield’s Gary Gabriel, David Bernhaut Kyle Schmidt and Ryan Larkin represented the sellers in this transaction. “Class A or new construction represents only a fraction of Northern New Jersey industrial market’s overall inventory,” said Schmidt “and it is very seldom available for acquisition.”
