Fennelly Associates, 200A Whitehead Road #222, Hamilton 08619. 609-520-0061. Jerry Fennelly, president. www.fennelly.com.
Hamilton-based commercial real estate firm Fennelly Associates has negotiated the sale of a 2,100-square-foot industrial building located at 10 Industry Court in Ewing. Jerry Fennelly and Matt Fennelly represented the seller, Tiffany Cavalier Family Properties LLC, in the transaction with the buyer, Landolfi Realty Group II, LLC.
10 Industry Court is a single-story warehouse building with a single drive-in door and ample outdoor storage. The property offers easy access from Route 206/Lawrenceville Road and connection to Mercer County and eastern Pennsylvania via Route 1 and Interstate 295. The new owner will utilize the building to operate an independent electrical maintenance company.
“Demand from local businesses continues to drive both leasing and sales volume across the central New Jersey industrial market,” said Jerry Fennelly. “When trying to align tenants or buyers with owners, it’s critical for brokers to employ a strategy informed by local market knowledge that speaks directly to the unique needs of businesses in the area.”
Fennelly also recently negotiated the sale of a 22,000-square-foot mixed-use building on nine acres located at 103 Dunns Mill Road in Bordentown. Fennelly represented the seller, The Scottish Rite, in the $4.13 million transaction with the buyer, Tosh Wolfe.
Originally constructed in 2010 as the home of the New Jersey chapter of The Scottish Rite, declining membership forced the national fraternal organization to place the property on the market. Leveraging the property’s GC-1 approved zoning, Wolfe intends to redevelop the property into a 182,000-square-foot warehouse facility to address the growing demand for industrial space in the central New Jersey market. The new ownership plans to break ground on the project later this year.
“Buildings designed around a specific use like 103 Dunns Mill Road are often difficult to sell in today’s market,” said Fennelly. “For this assignment, we leveraged our extensive network to connect our client with a buyer interested in finding a second life for the property. We are happy to have helped our client trade their asset and we want to wish Tosh the best of luck as he begins the redevelopment process.”
