Belleville Industrial Center at 681 Main St. in Belleville – LEE & ASSOCIATES – NEW JERSEY
Lincoln Equities Group purchased the 15.25-acre Belleville Industrial Center for $13 million in December.
Lee & Associates – New Jersey, which represented seller Belleville Industrial Center Inc. in the transaction, announced the sale on Jan. 19.
The commercial real estate services firm said Lincoln Equities plans to redevelop the property into modern warehousing space.
According to Lee & Associates, the 295,000-square-foot site at 681 Main St. in Belleville has been owned and operated by the Ellis family since the 1970s.
Lincoln Equities is the full-service real estate company behind the transformative Lincoln Logistics Bayonne project at the former Military Ocean Terminal site in Bayonne.
“This disposition was especially meaningful as Lee & Associates was, once again, was able to help a family business capitalize on historically high demand for industrial land,” said Lee & Associates’ Jason Lynch, who represented Belleville Industrial Center Inc. along with Troy Wisse.
“Lincoln Equities was the right buyer for this asset,” Lynch added. “They had the expertise necessary to navigate the site’s unique challenges.”
