EDISON, N.J., July 28, 2021 (GLOBE NEWSWIRE) — Northpath Investments, (“Northpath”), recently acquired a fully leased 63,200-square-foot Light Industrial and R&D building leased to a single tenant at 3920 Park Avenue in Edison, New Jersey for $11 million.
Michael Klein & Max Custer of JLL represented Northpath in arranging a five-year, fixed-rate loan with Signature Bank for $7.2M.
“We are excited to add 3920 Park Avenue to our growing portfolio” said Gershon Alexander, “This property is located in one of the best performing industrial markets in the region due to its extensive highway network and access to a robust labor market”.
The facility is 100% leased to EOS Energy Services, a clean energy storage solutions company. The building serves as their corporate headquarters as well as their critical research & development facility. EOS has been a tenant at the building since 2016 and has made considerable financial commitments to the facility including various system upgrades.
About Northpath Investments
Northpath seeks to acquire retail, industrial, and office properties in primary and secondary markets with the potential for significant increase in cash flow and residual value through lease up, expansion, renovation and redevelopment. Northpath focuses on markets within the Northeast and Mid-Atlantic, targeting areas with attractive population density and income levels. Northpath sources favorable financing terms to generate superior risk-adjusted returns. Please feel free to contact us if you would like to submit a property you think would fit our criteria here: https://northpathinvestments.com/contact/
For Immediate Release
Contact: Danielle Gross
Email: info@northpathinvestments.com