34 Engelhard Drive Update 09/14/23

Warehouse Trades for $53.75M in Monroe Township

A Class-B, industrial warehouse building, located at 34 Engelhard Drive in Monroe Township, New Jersey, has just been sold for $53.75 million. The structure was purchased by GLP Capital Partners from the previous owner, Clarion Partners, in a deal brokered by CBRE.

Built in 1980, the structure sits on approximately 12 acres of land and features 23 loading dock doors, 2 drive-in doors, direct rail access with loading doors in the rear, and an employee parking lot, with enough room for 140 vehicles.

The warehouse is currently leased by Berry Global; a major manufacturer of plastic packaging products. Berry is the building's sole tenant and it will continue to operate as normal out of the facility, despite the property's change in ownership.

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