The disposition of the property comes three years after Lincoln Equities and Real Capital acquired it from Dow Chemical subsidiary Union Carbide.
by Barbra Murray, Commercial Property Executive
Lincoln Equities Group and partner Real Capital Solutions just pocketed $57 million on the sale of a 228-acre industrial site in Piscataway, N.J. The partners sold the fully entitled property to The Rockefeller Group, which plans to invest as much as $250 million to develop the site.
The disposition of the property, located off Interstate 287 at 171 River Rd., comes three years after Lincoln Equities and Real Capital acquired it from Dow Chemical subsidiary Union Carbide. The former brownfield site—which Union Carbide fully restored following the closing of a Bakelite plastics manufacturing plant in 1939—has been closed since the 1960s. While most industrial real estate developers were targeting the Interstate 95 corridor, Lincoln Equities saw an opportunity for the Interstate 287 corridor.
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