NAI Fennelly announces it has negotiated the sales of 37 and 41 Burnt Tavern Road in Millstone, N.J. for $2 million. NAI Fennelly’s Jerry Fennelly, SIOR, represented the seller of 37 Burnt Tavern Road, PAK SC, LLC, and the seller of 41 Burnt Tavern Road, WBP, LLC, in the transactions with RDM Management.
Situated directly off Exit 16 on Interstate 195, 37 and 41 Burnt Tavern Road cover a total of 11.02 acres and feature ideal connectivity to the New Jersey Turnpike as well as the New York City and Philadelphia metropolitan areas. Capitalizing on the tremendous demand for industrial space in the market and the superior location of the properties, RDM Management plans to construct a 130,063-square-foot Class-A industrial building boasting 16 loading docks and one drive-in on the combined site. The property was not approved at the time of closing.
“Prime development sites in central New Jersey continue to be few and far between,” said Jerry Fennelly, SIOR, President of NAI Fennelly. “We continue to work closely with our clients to help them capitalize on this robust market for developable land to create value from their assets while also helping to bring important rateables to towns like Millstone.”