CBRE Arranges Sale of Industrial Property at 1065 Cranbury South River Road in Monroe Township, NJ

CBRE today announced it has arranged the sale of Eastpoint at Exit 8A, a 450,330 sq. ft. industrial facility centrally located between New York City, Philadelphia and Central New Jersey at 1065 Cranbury South River Road in Monroe Township, NJ. Property Reserve Inc. acquired the asset from Morgan Stanley at an undisclosed price.

CBRE’s Brian Fiumara and Brad Ruppel led the team overseeing the marketing campaign on behalf of the seller and also procured the buyer in the transaction.

“Eastpoint at Exit 8A is one of the best logistics facilities in the region offering direct access to the densest consumer base in the U.S. and supported by world-class transportation,” said Fiumara. “Fully occupied by a global, publicly traded company with a recently executed lease renewal in place makes the property ideally positioned and provided Property Reserve with a one-of-a-kind investment opportunity.”

Boasting Class A institutional quality construction, the property is 100% leased to Iron Mountain Information Management LLC, a wholly owned subsidiary of Iron Mountain, a global leader in storage and information management services.

Built in 2018, Eastpoint at Exit 8A offers an efficient best-in-class loading design with a 470’ deep cross-dock configuration, 56’ x 50’ column spacing, 36’ clear ceiling heights and ample loading capacity via 100 existing docks. In addition, the property features 11,100 sq. ft. of office space, a fully warrantied EPDM membrane roof, ESFR fire protection system, and energy-efficient lighting. The facility is just 15 miles from the Port of New York/New Jersey and boasts direct access to I-95/New Jersey Turnpike and proximity to Exit 8A, the third largest submarket in New Jersey with the highest quality labor pool attracting globally recognized retail, wholesale and EPL occupiers.