Challenge
 
Due to lack of demand the electric motor division, Electro Dynamics Corp. of General Dynamics decided to close their Avenel, NJ plant of 357,811 square feet on 27.54 acres and relocate operations elsewhere. 
 
Solution
 
The New Jersey Industrial Team was engaged to evaluate the options for disposition based upon property analysis and evaluation, current market conditions and location.
 
The team developed a strategic marketing plan based upon the qualities of the property most sought after in the current marketplace.  Focusing on the positive attributes of the property great interest developed amongst  both end users and developers.
 
A "bidding war" developed and ultimately the property sold to an aggressive developer, JFR Global out of Brooklyn, New York which the New Jersey Industrial Team brought to the table.

The property is currently being repositioned and has been placed back on the market for multi-tenant leasing.