Cushman & Wakefield said Monday that DLP Real Estate Capital sold Fox Hollow Industrial Science Center, a 42,653-square-foot industrial/flex property in Branchburg, to a private entity for $6,400,000.

C&W‘s commercial real estate services New Jersey capital markets team arranged the sale at 3434 Route 22. Cushman & Wakefield investment sales specialists Andrew Schwartz, Andrew Merin, David Bernhaut, Gary Gabriel, Brian Whitmer, Kyle Schmidt and Jordan Sobel represented the seller and procured the buyer. The asset is fully leased to three tenants – Cimquest, Bovine Collagen Products and Blue Hill Data Services.

“Fox Hollow’s diverse tenant roster and strong cash flow made the asset particularly attractive to the buyer,” said Schwartz, senior director at Cushman & Wakefield, who led the assignment. “Further, the Branchburg industrial submarket, which has an inventory of more than 4 million square feet, boasts a tight vacancy rate of less than 3 percent. Fox Hollow itself has historically enjoyed high occupancy as its flex/industrial space is in such high demand.”

Situated on 6.53 acres, the property includes best-in-class features such as 22-foot ceiling heights, four loading docks and a 3.78 per 1,000-square-foot parking ratio. Recent improvements at the asset, which was originally constructed in 1988, include a newly-installed roof.

“DLP Real Estate Capital acquired this asset in extreme distress. We were able to successfully stabilize and unlock significant value creation for its investor base,” said Anthony Ruben, director of investments of DLP Real Estate Capital.

Located on Route 22, Fox Hollow provides direct access to Interstates 287 and 78 and serves one of the most densely-populated areas in the entire country. Additionally, a townhouse community adjacent to the industrial asset is currently under development.