Dalfen Industrial Acquires 100K SF Industrial Property in Somerset

By Linda Lindner, ROI NJ

Dalfen Industrial acquired a 99,714-square-foot industrial building located in Somerset, according to a Monday announcement from the Dallas-based real estate firm.

Dalfen also announced that, shortly after closing on the trade, the entire premises was leased to Scentbird Inc., a fragrance subscription service company.

Located at 401 Cottontail Lane, less than 15 miles from Exit 10 of the New Jersey Turnpike and within 30 miles of the New Jersey ports, the property, constructed in 2023, offers Class A building amenities, including a 36-foot clear height, 14 loading doors, ESFR sprinkler system and 62 car parking spaces.

The building acquisition was sourced off-market by Joel Lubin of JLL, while Chuck Fern with Cushman & Wakefield represented Scentbird in the lease.

“Acquiring a new industrial property in a submarket with a strategic infill location makes this property an attractive option for tenants and a great addition to our portfolio,” Michael Cohen, head of acquisitions for Dalfen, said. “We intend to continue acquiring and developing last-mile properties in this market in the near future.”

“The proximity to labor, rooftops and major transportation corridors makes Somerset an ideal last-mile location,” John Lettieri, market officer said. “With a modern warehouse design and the ability to immediately occupy, the property garnered a significant amount of interest from tenants and leased quickly after closing.”

https://www.roi-nj.com/2023/07/18/real_estate/dalfen-industrial-acquires-100k-sq-ft-industrial-property-in-somerset/

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