REBusinessOnline

Sitex Group Sells Two-Building Industrial Property in Avenel, New Jersey, for $65M

215-Blair-Road-Avenel-NJ

Barings Real Estate has acquired two industrial properties located at 191 and 215 Blair Road (pictured) in Avenel, N.J., for a combined total of $65 million.

AVENEL, N.J. – Sitex Group has completed the disposition of a two-building industrial asset located at 191 and 215 Blair Road in Avenel. Barings Real Estate, on behalf of an institutional investor, acquired the assets for a combined total of $65 million. Located off Exit 12 of the New Jersey Turnpike/Interstate 95, the properties consist of a fully-renovated 175,182-square-foot building and a newly constructed 198,854-square-foot building. Gary Gabriel, Andrew Merin, David Bernhaut, Brian Whitmer, Kyle Schmidt and Andrew MacDonald of Cushman & Wakefield represented the seller and procured the buyer.

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