Textile Maker Buys 399,000-SF Industrial Building

AVENEL, NJ-Textiles from Europe, a major manufacturer of weave and knitted textiles, has acquired the 399,000-sf industrial building located at 150 Avenel Ave. The company will move its manufacturing, distribution and office operations here from its existing location in Brooklyn, NY.

The transaction was arranged by CB Richard Ellis’ Iselin, NJ office. The firm’s Mindy Lissner, Joe Nitti, Lou Belfer and Scott Belfer negotiated the transaction on behalf of the seller, Woodbridge Realty Holdings LLC, a local investment group. The sale price was listed as approximately $7.5 million.

Located in Middlesex County between Exits 11 and 12 of the New Jersey Turnpike in the Route 1/9 distribution corridor, the asset sits on a 27.6-acre landscaped site. No further details of the transaction were disclosed.