January 2023

M id A tlantic Real Estate Journal — New Jersey — January 2023 — 3B


N ew J ersey

In the Heart of Union County property features 37,000 s/f warehouse/3,000 s/f office space NAI DiLeo-Bram & Co.’s Team Goski arranges $3.8M sale of North Ave. industrial property


collar job creation, which speaks to the strength of lo- gistics as a key contributor in the state’s diverse economy.” Since joining NAIDB, Gos- ki and Goski-Vasquez have completed 100+ sale and lease transactions exceeding 900,000 s/f. MAREJ

ARWOOD, NJ — In Union County, NJ, where long-term mar-

ket funda- mentals con- tinue to fuel solid perfor- mance with- in the indus- trial sector, NAI DiLeo- Bram & Co. (NAIDB) has ar- ranged the $3.8M sale of a 40,000 s/f mixed- use property located at 15-31 North Ave. East in Garwood. The NAIDB


Richard Goski

a section of the MARE Journal Phone: 781-740-2900 www.marej.com

15-31 North Ave. East

S ection P ublishers Linda Christman lchristman@marejournal.com

1.63 acres at a signaled inter- section, also includes a long- standing ice cream store. The borough of Garwood offers ease of connectivity to the region’s multi-modal transit infrastruc- ture, including Port Newark- Elizabeth, the NJ Turnpike, Garden State Pkwy. and Rtes. 78, 1/9 and 22. The buyer – a local company – has plans to make several improvements to the property

and is marketing the facility for lease in early 2023 through NAIDB, as the exclusive leas- ing agent. Team Goski has sold over six acres on North Ave. in Garwood alone during the past four years. In 2018, the brokerage team also arranged the sale of an adjacent 120,000 s/f paper- mill at 75-93 North Ave. to Garden Homes. The property is slated for multifamily and

self-storage redevelopment. “Warehouse/distribution/ light industrial investment and leasing activity have been extremely robust over the course of the past two years in this geographic region and we expect it to remain as such regardless of any major economic shifts,” said Goski-Vasquez. “New Jersey’s industrial sector is a pipeline for sustained blue- and white-

Catherine Goski- Vasquez

brokerage team of vice presi- dent Richard Goski and associate vice president Cath - erine Goski-Vasquez rep- resented the seller in the trade involving 37,000 s/f of warehouse and 3,000 s/f of office space. The property, which occupies

Lea Christman lea@marejournal.com

S ection E ditor Karen Vachon editor@marejournal.com

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