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

Asset located in New Jersey's Exit 8A submarket

Don't miss the real estate event of the summer
Join 4,000 real estate pros at Connect SF, Aug 7‑11, 2017

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. ...