Middlesex Logistics Center changes hands for $83m

ASB Real Estate Investments and Cohen Asset Management paid $83m for the Middlesex Logistics Center in Edison, New Jersey. Built in 2014, the 570,000 sq ft warehouse and distribution center features 36-foot clear heights, 101 loading docks and parking for 190 cars and 135 trailers. The property is in close proximity to New York City and the Port of Newark-Elizabeth. CBRE National Partners negotiated the sale on behalf of the seller, JP Morgan Asset Management.

“This sale is yet another indication of how active the industrial market is in New Jersey,” said Brian Fiumara, executive vice president of CBRE National Partners. “We are seeing product trading at record highs throughout the state and there seems to be very little indication that this will subside in the near term.”