REBusinessOnline

BAKER PROPERTIES ACQUIRES INDUSTRIAL PORTFOLIO

FRANKLIN TOWNSHIP AND ROCKAWAY, N.J. — Baker Properties has acquired a two-property, Class A industrial portfolio located in northern New Jersey. The two properties include 500 Memorial Drive, a 148,598-square-foot warehouse situated on 11.38 acres in Franklin Township; and 400 Commons Way, an 83,028-square-foot high-tech/flex building situated on 15.6 acres in Rockaway. Both properties were fully occupied at the time of closing. The portfolio was sold by RREEF, in a transaction arranged by Cushman & Wakefield of New Jersey. The acquisition price was not disclosed.

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