AeroFarms' headquarters and indoor farm have been sold to a new owner, Cabot Properties.
Walker & Dunlop announced that it arranged for the $21,000,000 sale of 212 Rome Street, the 65,539 square-foot, build-to-suit headquarters of AeroFarms, a sustainable urban agricultural company located in Newark, New Jersey.
Walker & Dunlop's Thomas Walsh and Joseph Garibaldi were retained exclusively to arrange the sale on behalf of RBH Group to Cabot Properties. RBH said that Cabot will continue to operate the facility as AeroFarms‘ headquarters and indoor farm.
Mr. Walsh stated: "While the property is an urban in-fill industrial asset, it was also a strong ESG investment in sustainable and clean farming. 212 Rome Street is a self-contained production and distribution center, which makes for a low carbon footprint and reduces supply chain liabilities."
The property is positioned in northern New Jersey's Port submarket, one of the most desirable industrial submarkets in the nation. As one of the most recently completed and highest quality industrial assets within the Port, 212 Rome Street employs an aeroponic growing system.
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Walker & Dunlop