Strategic industrial redevelopment opportunity highlights continued investor confidence in New Jersey market

Edison, NJ and Chicago, IL– Global real estate advisory firm Avison Young has successfully completed the sale of a prime redevelopment site in Edison, New Jersey. The property is located at 2121 State Route 27 in Edison, New Jersey for $7,750,000. The three-story, 99,321-square-foot facility—formerly home to research and design operations for Revlon Cosmetics—is slated to be vacated in 2025 and presents a prime opportunity for redevelopment with a change of use. 

“With the property’s location sitting right off the I-287 and I-95 Interchange and with direct neighboring tenants including a new FedEx Ground distribution center and a new Amazon Fulfillment Center it’s an obvious opportunity to add a more logistics driven use,” said Mike Wilson, Principal. “It’s another example of well-located multi story suburban office use being converted to logistics use.”

Wilson along with Erik Foster, Principal, based in the firm’s Chicago office; and Tim Cadigan and Matthew Turse in the firm’s New Jersey Office represented the undisclosed seller.

The buyer, American Equity Partners, acquired the property with plans to likely reposition the site to meet the evolving needs of market. The current building features a flexible mix of laboratory, office, and warehouse space, making it suitable for a wide range of users following renovation.

“This sale reflects the continued optimism surrounding New Jersey’s industrial and redevelopment environment,” added Foster. “Properties like 2121 State Route 27 offer unique value for investors looking to capitalize on strategic locations and adaptable infrastructure. We’re proud to have helped facilitate a transaction that aligns with the region’s growth trajectory.”

Avison Young continues to be a trusted partner in navigating complex capital markets transactions, delivering strategic solutions for clients across the U.S.