Sale-leaseback of Edison, N.J. outdoor storage facility brings national niche investment firm to the Garden State
Edison, N.J. (August 29, 2022) – NAI James E. Hanson, the largest New Jersey-based full-service independent commercial real estate firm, announces the sale-leaseback of an 8-acre construction yard at 75 Glendale Avenue in Edison, N.J. NAI James E. Hanson’s Scott Perkins, SIOR, Chris Todd, SIOR and William Ericksen represented the buyer, Industrial Outdoor Ventures, in the transaction with Railroad Construction Company.
Established in 2017, Industrial Outdoor Ventures is the first national real estate investor specializing exclusively in outdoor storage facilities. Based in Chicago, the company boasts an 18-state, 835-acre footprint of mission-critical industrial service facilities (ISF) with significant outdoor storage components. The acquisition of 75 Glendale Avenue is the company’s first in New Jersey.
Featuring eight acres of outdoor storage and a 35,729-square-foot maintenance building, 75 Glendale Avenue aligned perfectly with Industrial Outdoor Ventures’ acquisition criteria. Additionally, the property boasts a strategic location just over a mile from the intersection of the New Jersey Turnpike and Route 18. The previous owner, Railroad Construction Company, a major general contractor with experience and expertise in all areas of civil construction, track construction, and building construction, will continue to lease the property to support its work throughout central New Jersey.
“The boom in industrial demand over the last several years has created a robust market for well-located outdoor storage facilities across New Jersey,” said Perkins. “For many investors, especially those from out of state, navigating the competitive outdoor storage sector can often be a daunting task. However, our expertise in the market and creativity continue to enable us to help our clients find deals and grow their portfolios in this asset class.”