In a move that continues the ongoing relationship between CenterPoint and NAI James E. Hanson’s Team Perkins & Todd, the industrial real estate investment firm recently acquired a building in Wayne.

NAI Hanson announced June 3 that Scott Perkins, Chris Todd and William Ericksen represented CenterPoint, working closely with that company’s investment officer Bryan Won, in the acquisition of 100 Demarest Drive, a 117,340-square-foot industrial building, from 100 Demarest Drive LLC, the seller.

Neither financial terms nor the seller’s representation were disclosed.

“We continue to see institutional capital flowing at unprecedented rates into the northern New Jersey industrial market,” said Perkins. “With virtually zero available buildings in many markets surrounding the Port as well as the New Jersey Turnpike, these investors are increasingly looking further west to markets like Wayne. Through leveraging our on the ground presence and local relationships, this deal exemplifies our ability to help our clients find ideal acquisitions and meet their business goals in this competitive market.”

According to Cushman & Wakefield’s First Quarter 2022 Industrial Marketbeat report, in North Jersey, Passaic County — which includes Wayne — boasted the lowest overall weighted average net rent for warehouse and distribution space at $9.51 per square foot. The next-lowest on the list, Morris County, averaged more than $2 higher, at $11.74 per square foot, while Essex County — at the high end of the spectrum — boasted $16.04 per square foot.

The fully leased property at 100 Demarest Drive sits on 10.5 acres, less than 1 mile from the intersection of Routes 23 and 80. It offers 26-foot clear ceiling heights and an adaptable layout.

CenterPoint is making moves to expand its portfolio in the North Jersey market, according to NAI Hanson. Late last year, Team Perkins & Todd also helped the company negotiate a long-term, full-building lease at a newly constructed 182,000-square-foot spec warehouse the firm built adjacent to Port Newark. According to NAI Hanson, the team was crucial in helping to negotiate a deal at that property with a Fortune 500 company that committed to a rental that was 27% above initial pre-construction projections.