Piscataway, N.J. – NAI James E. Hanson, the largest New Jersey-based full-service independent commercial real estate firm, negotiated the $73.6M sale of Normandy Logistics Center, a newly developed 241,200-square-foot Class-A distribution center located at 10 Normandy Drive in Piscataway, New Jersey.
Senior Managing Directors Jordan Avanzato, SIOR, Christopher D. Todd, SIOR, and Managing Director William Ericksen, SIOR, CCIM, of NAI James E. Hanson’s Institutional Services Group represented the buyer, Elion Partners.
Normandy Logistics Center is a state-of-the-art, 241,200-square-foot distribution facility featuring 40’ clear ceiling heights, 39 loading docks, two drive-in doors, 60 trailer parking spots, 164 car parking spaces, and seven EV charging stations. The Property also offers immediate access to Interstate 287 and proximity to major regional highways including the Garden State Parkway, Interstate 78, and Routes 1 and 9, as well as Port Newark and Newark Liberty International Airport.
“We’re seeing the pendulum shift in leasing activity for Class-A industrial products, with more investors willing to take on vacancy risk to secure a favorable basis, especially in core markets like Piscataway,” said Avanzato. “This transaction also underscores the continued confidence in the long-term fundamentals of New Jersey’s industrial market, and the enduring appeal of high-quality assets in prime distribution corridors.”
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