Terminal Ave
Terminal Ave
Location: Clark, NJProperty Type: Office/Industrial
Size: 963,500 square feet
Investment Type: Equity
Investment Size: $9,500,000
Date of Investment: April 2008
RCG Longview and The Feil Organization purchased a portfolio of properties consisting of approximately 963,500 square feet of flex office / industrial and retail space spread over 70 acres and 22 buildings in Clark, NJ. 20 of the 22 buildings are single tenant occupied, and nearly all the buildings are single story. The portfolio has been assembled and developed over a number of years by the seller, a family-owned company. The portfolio is currently 96.3% occupied and has maintained similar average occupancy for the last 20 years. The Portfolio provides a well located, as-is stabilized investment that will see an increase in cash flow due to interim rent bumps and rental increases as rents roll. There are also numerous redevelopment opportunities that could provide both short and long term upside.
