AUGUST 24, 2016 | TRAVIS SHERWOOD

Center Point @8A Bldg Sold for $15.8M

Ivy Realty Divests 268,000-SF Facility in South Brunswick

TIAA Investment Management acquired the industrial building at

51 Commerce Dr. in South Brunswick, NJ from Ivy Realty Services
LLC for $15.83 million, or about $59 per square foot.

The 220,000-square-foot industrial property was fully leased at the

time of sale to Lenox, Halstead Corporation and Salesmaster
Associates. It was built in 1983 on 14.3 acres in the Exit 8A
Industrial submarket of Middlesex County, within the Center Point
@ 8A business park.

Gary Gabriel, Andrew Merin, David Bernhaut, Brian Whitmer, Kyle

Schmidt and Andrew MacDonald with Cushman & Wake eld of
New Jersey, Inc. represented the seller. The buyer handled the sale
in-house.

Please see CoStar COMPS #3684602 for additional information on

this transaction.