BETHESDA, Md., Dec. 2, 2021 /PRNewswire/ -- Walker & Dunlop,
Inc. announced today 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. The company's
industrial facility at 212 Rome Street is home to the one of the
largest and most productive indoor vertical farms globally and
features a unique combination of traditional Class A warehouse and
distribution space, a state-of-the-art research and development
center, as well as acutely climate-controlled areas for produce
cultivation.
Walker & Dunlop's Thomas
Walsh and Joseph
Garibaldi were retained exclusively to arrange the sale
on behalf of RBH Group to Cabot Properties. "212 Rome Street,
already home to one of the largest indoor vertical farms in the
world, is projected to grow its capacity even further – to over 20
million pounds annually upon completion of Phase II," 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, which
enables local production of pesticide-free greens without soil or
sun and uses 95% less water than traditional farming. Serving one
of the most densely populated markets in the U.S., this system can
produce greater than 100 times as many crops per square foot as
compared to a traditional field farm.
Walker & Dunlop is a leader in property sales, having
completed $4.74 billion in property
sales volume in the first half of 2021. The firm is also the #4
provider of capital to the overall commercial real estate market,
delivering a total transaction volume of $41
billion in 2020. For information about properties available
for sale via Walker & Dunlop's investment sales platform, visit
our website.
About Walker & Dunlop
Walker &
Dunlop (NYSE: WD) is the largest provider of capital to the
multifamily industry in the United
States and the fourth largest lender on all commercial real
estate including industrial, office, retail, and hospitality.
Walker & Dunlop enables real estate owners and operators to
bring their visions of communities — where Americans live, work,
shop and play — to life. The power of our people, premier brand,
and industry-leading technology make us more insightful and
valuable to our clients, providing an unmatched experience every
step of the way. With over 1,000 employees across every major
U.S. market, Walker & Dunlop has consistently been named
one of Fortune's Great Places to
Work® and is committed to making the
commercial real estate industry more inclusive and
diverse while creating meaningful social, environmental,
and economic change in our communities.
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SOURCE Walker & Dunlop, Inc.