Developer CenterPoint Properties last week said it recently closed the $83 million acquisition of a 1.5 million-square-foot distribution center occupied by bookstore Barnes & Noble in Monroe, N.J.
It was the largest amount ever paid by Chicago-based CenterPoint for a single building and brings its holdings in the New Jersey market to 2.9 million square feet.
Barnes & Nobles’ lease for its e-commerce fulfillment center runs through 2020. The facility, located about 30 minutes from the Port of New York and New Jersey, ships a wide variety of merchandise, including electronics, toys, games and gifts. – Eric Kulisch
CenterPoint buys massive N.J. DC
