SOMERSET, NJ—Matrix Realty Inc. has acquired 20 South Middlesex Ave. in Monroe Township, N.J. The 146,529-sq.-ft. industrial building was leased to DiPinto Brothers Group of Companies in a long-term lease negotiation. Charles Fern, executive managing director, principal and Jason Barton, associate vice president of Cassidy Turley represented all parties in the sale and lease of the property.
Originally built for Siemens in 1992, the class-A industrial building offers office space, as well as production space. The acquisition brings Matrix Realty Inc.’s total portfolio in the exit 8A NJ Turnpike area to more than 2 million sq. ft. of industrial space.
“The location of 20 South Middlesex along the I-95 corridor combined with its unique expansion potential made this property extremely appealing to an institutional investor,” said Fern.