Cushman & Wakefield inks sale, rapid lease-up of industrial asset in Keasbey

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A Cushman & Wakefield team of New Jersey industrial specialists represented Lefcourt Associates in the sale of 19 Crows Mill Road in Keasbey to Liberty Property Trust, the real estate firm announced Wednesday.

Less than 30 days after being appointed by the new ownership as exclusive agents for the 302,500-square-foot facility, the group secured a long-term, full-property lease with The Gilbert Co.

Cushman & Wakefield’s Charles Fern, Gary Casaletto, Jason Barton, Thomas Tucci and Stephen Shoemaker led both assignments.

“Investment and leasing demand for New Jersey industrial product continues on a historic trajectory, and these back-to-back transactions reflect the desirability of strategically located, well-maintained facilities,” Fern said.

Located just minutes from Exit 10 of the New Jersey Turnpike, 19 Crows Mill Road occupies a prime location for distribution, just 22 miles from Port Newark-Elizabeth, 20 miles from Newark Liberty International Airport, and less than 30 miles from New York City. The property also features ample loading and parking; 50- by 72-foot column spacing; heavy power; the presence of a 24-hour, on-site truck repair shop; and recent improvements including LED lighting, new dock seals and renovated offices.

The Gilbert Co. will take occupancy at 19 Crows Mill Road in the first quarter of 2019.