Sale closes on new 680,000-square-foot facility

Rockefeller Group Development Corp. and IDI have sold a newly constructed, 680,000-square-foot distribution facility in Cranbury, N.J., for an undisclosed price.

San Antonio, Texas-based US Industrial REIT II purchased the class A property located at 324 Half Acre Road, which features cross docking and 36-foot clear ceilings.

Logistics company Kuehne & Nagel Inc. has already leased 443,803 square feet at the property, which left 237,000 square feet vacant at the time of sale.

The property's original incarnation housed a pharmaceutical and consumer products company, but was redeveloped into modern distribution space last year.

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