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230 Belmont Drive
Update
05/02/23
Somerset Warehouse Trades for $44M
A Class-A, industrial warehouse, located at 230 Belmont Drive in Somerset, New Jersey, has just been sold for $44 million. The asset was acquired by Bridge Industrial from the previous owner and developer, Newland Capital Group, and co-owner Stonemont Financial Group.
Newly constructed in 2022, the 152,175 square-foot structure features 28 loading docks; 2 drive-in doors; 36-foot interior clearance heights, an ESFR fire sprinkler system; and 108 employee parking spots. In addition to warehousing space, the building also features 2,500 square feet of auxiliary office space.
The development sits on 22 acres of land and is located within 2 miles of I-287 and less than 13 miles from I-95. This means the facility has easy transportation access to the Port Newark-Elizabeth Marine Terminal, the Port Jersey Marine Terminal, Newark Airport, and of course New York City as a whole.
