Wednesday, September 18, 2013

Investor Pays $98M for Pearson Industrial Bldg

National Commercial Real Estate News From CoStar Group

Investor Pays $98M for Pearson Industrial Bldg

Bentall Kennedy (US) LP advised an institutional investor in the acquisition of the Pearson 8A industrial building at 258 Prospect Plains Rd. in Cranbury, NJ. Exeter Industrial Value Fund II sold the property for $98 million, or about $111 per square foot.

The two-story, 886,826-square-foot distribution building was constructed in 2002 on 58 acres in the Exit 8A Industrial submarket of Middlesex County. It features 53,000 square feet of office...

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