February 14, 2020
DLP Real Estate Capital sold the 42,653-square-foot Fox Hollow Industrial Science Center, a flex/industrial property in Branchburg, NJ, to a private entity for $6.4 million. A Cushman & Wakefield capital markets team of Andrew Schwartz, Andrew Merin, David Bernhaut, Gary Gabriel, Brian Whitmer, Kyle Schmidt and Jordan Sobel represented DLP and procured the buyer.
The asset is fully leased to three tenants – Cimquest, Bovine Collagen Products and Blue Hill Data Services. “Fox Hollow’s diverse tenant roster and strong cash flow made the asset particularly attractive to the buyer,” said Schwartz, who led the assignment.
Originally constructed in 1988, the property at 3434 Rte. 22 has undergone capital improvements recently, including a new roof.
“DLP Real Estate Capital acquired this asset in extreme distress,” said Anthony Ruben, director of investments at DLP. “We were able to successfully stabilize and unlock significant value creation for its investor base.”
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