Subscribe
Close
  • Free for qualified executives and consultants to industry

  • Receive quarterly issues of Area Development Magazine and special market report and directory issues

Renew

Circle Squared Alternative Acquires Industrial Property In Carteret, New Jersey

03/14/2017
Circle Squared Alternative Investments and the Hampshire Companies acquired a 156,000 square foot Class-A warehouse/distribution industrial property, at 1500 Blair Road in Carteret, New Jersey.

Founded in 2014, Circle Squared Alternative Investments, LLC is an SEC registered investment adviser with a principal place of business in the State of New Jersey. The company said it works “with a finite group of high net worth investors and family offices to find alternative market investments, primarily in private equity real estate deals."

According to company officials, the ”investment property provides an opportunity to develop into a Class-A industrial property in a market where new industrial product is limited. The project will be constructed on a six acre parcel of land which will be ground leased for a term of 50 years with two renewal options consisting of 20 and 25 years each.”

The preliminary cost of the projected is estimated to be in excess of $16 million, the companies acquiring the property reported. "Carteret has become the premiere location for logistics-oriented real estate in New York Metropolitan area. We are very excited to have the opportunity to be a part of the rebranding of this great community," said Jeffrey Sica, President & CIO, Circle Squared Alternative Investments.

Article Discussion

Follow Area Development

Share