Saxum, Meadow Partners acquire infill value-added flex industrial asset in central New Jersey

Saxum Real Estate and Meadow Partners announced the acquisition of 1 Electronics Drive located in Hamilton Township, N.J. The low-coverage property is situated on 16 acres and features an 80,420-square-foot single-story flex industrial building that is 72.8 percent leased to three tenants, with 530 existing parking spaces and excess land providing optionality for future development. Saxum and Meadow plan to reposition and market the remaining available space in the building to accommodate a wide range of shallow-bay industrial and flex uses.

The property’s submarket — between Philadelphia and New York City with proximity to Princeton — provides opportunities for a variety of uses including logistics, life sciences, and research and development.

“Originally constructed as a manufacturing facility, 1 Electronics represents an excellent opportunity to convert the property back to its at use at an attractive cost basis,” said Jeffrey Kaplan, founder and managing