JV gets “Kiss” in Piscataway logistics center deal

The Rockefeller Group and joint venture partner Pacific Coast Capital Partners announced last week the $65.7 million sale of a 469,600-square-foot distribution and logistics center in Piscataway, New Jersey, to Port Washington, New York-based beauty company Kiss Products, NJBIZ reported. The facility itself is located within the 2.2 million-square-foot Rockefeller Group Logistics Center, the 228-acre former site of a Dow Chemical plastics factory that was acquired by New York-based Rockefeller two years ago in a $57 million deal. The joint venture subsequently began building five distribution centers on property. Cushman & Wakefield is serving as exclusive agent for the development and represented Rockefeller on the deal, while Kiss turned to Piscataway-based NAI DiLeo-Bram & Co. NJBIZ noted the transaction is being financed by Citibank, City National Bank and Shinhan Bank America. RE-NJ reported that the joint venture between Rockefeller and PCCP has sold off other industrial properties in Northern New Jersey’s red-hot industrial market. The Real Deal noted last week the $11.5 million sale of an office property in Piscataway. [NJBIZ]