CushWake arranges Somerset County sale
Jessica Perry//October 3, 2023//
139 Stryker Lane in Hillsborough is a 40,700-square-foot industrial facility, and home to RC Fine Foods. - CUSHMAN & WAKEFIELD
139 Stryker Lane in Hillsborough is a 40,700-square-foot industrial facility, and home to RC Fine Foods. - CUSHMAN & WAKEFIELD
CushWake arranges Somerset County sale
Jessica Perry//October 3, 2023//
According to the Cushman & Wakefield team that arranged the deal, a fully occupied industrial property in Somerset County offered a rare opportunity for its new owners.
On Sept. 29, the global commercial real estate services firm announced the sale of RC Fine Foods’ 40,700-square-foot headquarters at 139 Stryker Lane in Hillsborough for $8.3 million.
In the transaction, Cushman & Wakefield Managing Directors Andrew Schwartz and Mark Zaziski, Directors Jordan Sobel and Patrick Decker, Senior Associate Andre Balthazard and Associate Dan Bottiglieri represented RC Fine Foods, the seller, and procured the buyer – SL Industrial Partners, an affiliate of Basking Ridge-based The Silverman Group.
“139 Stryker Lane presented the rare opportunity for investors to acquire a stabilized, high-quality asset in one of the most desirable industrial enclaves in Hillsborough,” Sobel said in a statement. “This asset is 100% leased by RC Fine Foods, who has been at the property since 1995.”
Founded in 1972, the food manufacturer moved into the United States Department of Agriculture-inspected manufacturing and distribution facility when it was newly built. The family-run business and certified Women’s Business Enterprise is now in its second generation of leadership.
Situated on 6 acres of land, 139 Stryker Lane is in the Interstate 287 corridor, near Route 206 and less than an hour drive to the ports of New York and New Jersey. The property features 30-foot clear heights, three dock high doors, one drive-door, a full wet sprinkler system and 59 parking spaces, according to Cushman & Wakefield.
The building is also equipped with a roof-mounted solar system installed more than a decade ago. According to RC Fine Foods’ website, more than 30% of the company’s electricity and all the heat for the Hillsborough facility’s hot water are powered by the sun. Additionally, the company said it has added a higher efficiency HVAC system and LED lighting at the property.