Bussel Realty Corp. (BRC), an industrial real estate services firm in New Jersey, arranges the sale of Fairfield Industrial Park, a nine-building industrial park totaling 165,000 square feet and located at 912 Route 33 in Freehold.
Jordan Metz, senior vice president, and Eduard Skutelsky, vice president, of BRC represented an undisclosed seller in the transaction. The buyer, Fairfield Industrial Park LLC, purchased the property for $7.5 million and was represented by Imperial Real Estate.
Fairfield Industrial Park is currently occupied by 20 tenants and the new owners plan on making significant capital improvements to the industrial park. “The buyers were able to purchase a value-add portfolio with great potential for increasing its value to a 10-11 percent cap rate and make it an ideal modern site for tenants seeking quality industrial and office space,” noted Metz.
Fairfield Industrial Park is a nine-building industrial portfolio that totals 165,000 square feet. The property offers tenants various size industrial and office spaces with loading docks, drive-ins, and parking in a park setting. Located off Route 33, Fairfield Industrial Park is proximate to Route 9 and 18, I-195 and the Garden State Parkway.