US industrial real estate firm Dalfen Industrial has acquired a 99,714sqft asset in Somerset, New Jersey for an unspecified amount.

Dalfen said it has leased the newly constructed property to fragrance subscription service company Scentbird following the acquisition.

Michael Cohen, the head of acquisitions for Dalfen Industrial, said the acquisition represents Dalfen’s first value-add acquisition in Central New Jersey.

Cohen added: “Acquiring a new industrial property in a submarket with a strategic infill location makes this property an attractive option for tenants and a great addition to our portfolio.

“We intend to continue acquiring and developing last-mile properties in this market in the near future”.

John Lettieri, market officer at Dalfen Industrial, said: “The proximity to labour, rooftops and major transportation corridors makes Somerset an ideal last mile location.

“With a modern warehouse design and the ability to immediately occupy, the property garnered a significant amount of interest from tenants and leased quickly after closing.”

To read the latest edition of the latest IPE Real Assets magazine click here. 

Topics