Rockefeller Group Sells 147,000 SF Distribution Center In Piscataway, N.J. to Bridge Industrial
Bridge Expands Investment Portfolio with Acquisition of Constitution Logistics Center
MORRISTOWN, N.J. – (July 10, 2024) – Rockefeller Group, a leading real estate developer, owner and operator, announced today that is has sold Constitution Logistics Center, a 147,000-square-foot distribution center in Piscataway, N.J., to Bridge Industrial, a privately-owned, vertically integrated real estate operating company and investment manager. Located at 10 Constitution Avenue, the project is Rockefeller Group’s sixth industrial building developed in Piscataway in the past five years and adds to Bridge Industrial’s growing investment portfolio of New York and New Jersey distribution centers, where it currently owns over 14 million sf across 35 buildings.
“We’d like to again thank the Township of Piscataway for working with us so well on another project in the area and look forward to continuing our relationship with the town as we look for future projects,” said Heath Abramsohn, Vice President and Regional Director for Rockefeller Group. “We would also like to thank Bridge Industrial, who was terrific to work with on this deal.”
“We are excited to announce our purchase of 10 Constitution from the Rockefeller Group. This acquisition is perfectly aligned with our business strategy to acquire quality industrial buildings in supply-constraint core markets, said Jeff Milanaik, Partner Northeast Region, Bridge Industrial. “The property has significant advantages, the combination of building size, ample trailer parking, and dock-high loading will cater to a wide-range of tenant requirements. It was a pleasure dealing with the team at Rockefeller, their professionalism and attention to detail allowed for a smooth transaction”, added Stefan Sansone, Director Acquisitions Northeast Region, Bridge Industrial.
The project is approximately one mile from Exits 6 and 7 off I-287, providing access to I-95 to the south and Routes 78 and 80 to the north. Rockefeller Group’s previous Piscataway project is located four miles from 10 Constitution Avenue off Exits 8 and 9 on I-287. Constitution Logistics Center includes 36’ clear heights, 123 auto parking spaces, 57 trailer parking spaces, 41 loading docks and 3,000 sf of move in ready office space.
The KBC Advisors team of Marc Petrella and Michael Kimmel represented Rockefeller Group on the transaction. ARCO Construction was the general contractor.
Rockefeller Group acquired the 18-acre site in February 2023. A 100,000-square foot office building formerly owned and occupied by WS Audiology/Sivantos Group was demolished to accommodate the new industrial building.
About Rockefeller Group:
Rockefeller Group develops, owns and operates extraordinary properties across the United States. For nearly a century, the company has delivered exceptional experiences and value creation through dedication to quality in the built environment. The company’s portfolio spans the development of office, multifamily, industrial and mixed-use projects across six geographic regions as well as significant ownership interest in and management of approximately six million square feet of world-class office space in Manhattan. Visit RockefellerGroup.com.
About Bridge Industrial
Bridge Industrial (www.bridgeindustrial.com) is a privately-owned, vertically integrated real estate operating company and investment manager that focuses on the acquisition and development of Class A industrial real estate, in the supply-constrained core industrial markets of Chicago, Miami, New Jersey, New York, Los Angeles, San Francisco, Seattle, and Europe. Since its inception in 2000, Bridge has successfully acquired and developed close to 74 million square feet of industrial buildings.
