Binswanger Brokers Sale of Renovated Industrial Asset Backed by Long-Term Tenant

HAMILTON, NJ – MAY 6, 2025 – Binswanger, a global leader in full-service commercial real estate, is pleased to announce it has successfully coordinated the sale of 1980 E. State Street, a premier industrial facility in Hamilton, New Jersey. The buyer, SNS Real Estate Investment Group, acquired the asset for an undisclosed amount.

Long-time tenant, Princetel, Inc., will continue to operate at the site under a new lease agreement. The company specializes in the manufacturing of fiber-optic rotary joints and other connectivity solutions, with all production occurring in its United States facilities.

“The sale was an all-hands-on-deck effort that speaks to both SNS and Princetel’s transactional capabilities,” said Mike Torsiello, SIOR, Senior Vice President at Binswanger and the lead broker on the deal. “High-quality industrial assets with credit tenants continue to receive strong demand in today’s market. SNS has obtained an excellent asset, and we look forward to what Princetel will do in the facility as they continue their manufacturing operations long-term on site.”

“Industrial properties like 1980 E. State Street—with strong infrastructure, strategic location, and a quality tenant—remain among the most attractive investments in today’s market,” said Sam Roney, Director of Acquisitions at SNS. “1980 E. State Street fits seamlessly into our investment strategy, and we look forward to a long-term relationship with Princetel.”

The recently renovated 78,000 square-foot industrial building sits on 6.05 acres in one of Mercer County’s most strategic industrial corridors. The property features 17’ clear heights, seven (7) tailgate loading docks, approximately 99 off-street parking spaces, a wet sprinkler system, and a rooftop solar panel system. Situated just off Exit 65 of I-295, with direct access to US Route 1 and 206, the facility is ideally positioned for regional logistics and workforce accessibility.

The transaction reflects continued investor interest in well-located industrial properties with strong tenancy throughout the Northeast corridor.