Jeffrey L. Heller, Avison Young, Principal and Managing Director of the company’s New Jersey offices,is announcing the firm arranged the sale of a46,000-square-foot industrial building, located at 460 Milltown Road in Bridgewater, NJ.
An Avison Young team comprised of Matthew C. Turse, Senior Vice President, Timothy J. Cadigan, Senior Vice President, and John Recchia, represented the seller, FCI Properties.
The column-free facility was originally built for and used as an indoor tennis club. The buyer intends to repurpose the space into a new and strategic high-level training center that will include indoor soccer fields and other training facilities for its existing base and new young athletes.
Avison Young New Jerseynotes there is continued demand for recreational centers in Northern New Jersey. With a limited available inventory of these types of properties, buyers are looking at former industrial facilities and converting them into recreational spaces.
“OurAvison Young New Jersey team wasthe most suitable resource to market this facility because of our overall expertise and deep user and investor relationships in the Northern New Jersey region,” said Matthew C. Turse, Avison Young. “We were pleased to represent FCI Properties in this deal and look forward to expanding our work with the buyer who has also retained Avison Young Property Management Services to maintain the property and the grounds.”
Avison Young is the world’s fastest-growing commercial real estate services firm. Headquartered in Toronto, Canada, Avison Young is a collaborative, global firm owned and operated by its principals. Founded in 1978, the company comprises 2,600 real estate professionals in 81 offices, providing value-added, client-centric investment sales, leasing, advisory, management, financing and mortgage placement services to owners and occupiers of office, retail, industrial and multi-family properties.