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.

Show Comments Hide Comments

Comments

Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
Success!
Thank you for subscribing to Morning Headlines.
Back to top
Time is running out to secure your Connect Now tickets at the lowest price. Don't miss out on a chance to grow yourself and your business.Learn More×
Up-to-the-minute news and interviews in your inbox, ticket discounts for Inman events and more
1-Step CheckoutPay with a credit card
By continuing, you agree to Inman’s Terms of Use and Privacy Policy.

You will be charged . Your subscription will automatically renew for on . For more details on our payment terms and how to cancel, click here.

Interested in a group subscription?
Finish setting up your subscription