An 18,000-square-foot industrial building in East Brunswick has sold for $4.5 million after attracting six written offers in its first week on the market.The property at 12 Elkins Road was purchased by Twelve Trinity LLC, doing business as Hanna Mechanical Contractors, in a deal brokered by NAI DiLeo-Bram & Co., according to a company news release. Executive Vice President Marc Shein represented seller No Tilt Realty LLC and secured the buyer.Limited industrial inventory fuels competitionThe building...
An 18,000-square-foot industrial building in East Brunswick has sold for $4.5 million after attracting six written offers in its first week on the market.
The property at 12 Elkins Road was purchased by Twelve Trinity LLC, doing business as Hanna Mechanical Contractors, in a deal brokered by NAI DiLeo-Bram & Co., according to a company news release. Executive Vice President Marc Shein represented seller No Tilt Realty LLC and secured the buyer.
Limited industrial inventory fuels competition
The building sits on about two acres and was purchased for owner occupancy. Hanna Mechanical Contractors plans to move into the facility after completing cosmetic upgrades to the office space.
"We received six formal written offers within the first week of bringing it to market from a mix of users and investors," Shein said in the release. "With very few industrial buildings in this size range currently available, interest remained strong right up until closing."
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The response underscores continued demand for mid-sized industrial properties in Central Jersey, where available inventory remains limited.
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Buyer plans to occupy facility
Shein said the property appealed to owner-users because it could be occupied with minimal renovations.
"This property offered the buyer an opportunity to acquire a facility that can accommodate its operations with only minor office upgrades," he said.
The sale also marked a full-circle moment for Shein, who said he originally sold the building to No Tilt Realty, doing business as Alpha Omega Amusements, 32 years ago.
NAI DiLeo-Bram & Co., based in Woodbridge, is a member of NAI Global, an international commercial real estate network with more than 325 offices worldwide.
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This story was created by reporter Brad Wadlow, [email protected], with the assistance of Artificial Intelligence (AI). Journalists were involved in every step of the information gathering, review, editing and publishing process. .