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Ridgecut Road, together with Marcus Partners, said they recently acquired 3.63 acres of low-coverage industrial property in South Plainfield. The deal marks the firms’ second acquisition together in less than a year.
The site, located at 250 Mack Place, has been owned and operated by Ironclad Environmental Solutions, a business-to-business rental company that provides custom solutions for portable and temporary storage needs across industries.
“We were able to restructure the lease with the existing tenant, a leading national provider of logistics-based environmental solutions focused on the containment of liquid and solid industrial waste,” Ridgecut Road said in a news release.
The property includes two existing maintenance facilities totaling 13,500 square feet, each with three drive-ins. It is milled, fenced, lit and secured with a rectangular yard. Situated within the industrial submarket of the Interstate 287 corridor, the asset sits approximately 30 minutes south of the Port of New Jersey.
“This is a terrific IOS (industrial outdoor storage) asset to add to our growing northern New Jersey industrial portfolio. IOS is a burgeoning sector within the industrial asset class and has brought diversification to our overall portfolio.” Todd Minerley, senior vice president, Marcus Partners, said. “We look forward to increasing our IOS footprint in Northern New Jersey in addition to our primary focus in the region of acquiring existing industrial assets and potential development opportunities.”
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