8.2-Acre Yard Buy Represents IOV’s Expansion Into Northeast
EDISON, NJ (August 30, 2022)—Industrial Outdoor Ventures (IOV) has acquired an ISF property located at 75 Glendale Ave. in Edison, New Jersey. This marks the second time this month that IOV has entered a new market with a strategic acquisition.
The financial terms of the transaction were not disclosed. The Seller of the property was Glendale Properties, LLC, a private investor.
IOV’s latest acquisition is an 8.2-acre storage yard with a 34,327-square-foot building on the premises. Railroad Construction Company, Inc. (RCC) leases back the entire premises on a triple net basis.
RCC is a nearly 100-year-old company with deep roots in the railroad construction industry, including new track facility construction, track installation, track maintenance and track removal. Now offering a more diversified roster of services, RCC also provides construction services focused on highways, roads and bridges, among other areas of specialization.
“We are excited to be entering the New Jersey market, one of the most dynamic and steady performing industrial markets out there,” said Anthony DeLaurentis, Acquisitions Officer, Industrial Outdoor Ventures. “This is a geographic area we’ve been targeting for some time and we’re eager to continue growing our presence throughout the region in the near term.”
The property is well-located, in close proximity to the New Jersey Turnpike & I-95 which provide easy access to the surrounding areas. Additionally, 75 Glendale Ave. is within approximately 25 miles of the Newark and Elizabeth Ports, and Newark Liberty International Airport.
Christopher Todd, Scott Perkins and Will Ericksen with NAI James E. Hanson represented IOV in the transaction.
ERIC JOHNSON
Senior Vice President, Development & Acquisitions
Phone: 312.898.2978
Email: eric@iovre.com
ANTHONY DELAURENTIS
Acquisitions Officer
Phone: 847.595.0263
Email: anthony@iovre.com