Turnbridge Equities has purchased 138 Georges Rd., a one-story, 143,280-square-foot industrial warehouse located at New Jersey Turnpike (Interstate 95) Exit 8A in Dayton, NJ. The investment and development firm paid $23.75 million for the property, which was acquired out of foreclosure proceedings.
Originally constructed as a 102,000-square-foot warehouse, the facility was expanded in 2023 with a 41,000-square-foot addition. Turnbridge plans to implement a $4-million value-add program, including adding more loading docks, a new roof and solar panels.
“The property’s vacant delivery enables us to execute on our business plan immediately, bringing the building up to institutional standards and reintroducing it to the market at a time of persistent demand for modern warehouse space,” said Turnbridge managing principal Ryan Nelson.
The NAI James E. Hanson team of Eric Demmers and Russell Verducci will represent Turnbridge as leasing agent. The broker for the sale was Emanuel Westfried of TwoBins Capital.
