M id A tlantic Real Estate Journal — New Jersey — November 13 - December 10, 2020 — 13B N ew J ersey


Warehouse/distribution facility sells for $8.75 million Nathin of Sheldon Gross Realty brokers deal for 77,983 s/f structure in Fairfield


In addition to being just off Rte. 46, the recently-pur- chased warehouse is only a five-minute drive fromRte. 80, and less than 20 minutes from the Garden State Pkwy. “Being responsible for maintaining and manag- ing leases on these various Fairfield locations for more than two decades, we knew just about everything there was to know about them,” Gross said. “That made the various transactions reason- ably straightforward, since we could quickly answer any question that arose.” MAREJ

by Sheldon Gross Realty presi- dent Marcy Gross. “In less than two years, we’ve sold nearly 400,000 s/f of commercial real estate in Fairfield,” Nathin said. “These deals demonstrate what an exceptional location this town- ship is for a wide range of businesses. Fairfield offers exceptional warehousing, of- fice, and industrial structures in suburban Essex County, right on the border withMorris County, and a 30-minute drive from midtown Manhattan. It doesn’t get much more attrac- tive than that.”

AIRFIELD, NJ — In an $8.75 million transac- tion, a warehouse and

distribution facility just of f Rte. 46 in Fairfield was recently acquired by Ridgewood- based The Stro Com- p a n i e s .

Bob Nathin

sheldon gross realty execu- tive vice president Bob Na- thin brokered the deal on the 77,983 s/f structure. For Sheldon Gross Realty, the 140-142 Clinton Rd. transaction followed by about 17 months a separate, $34 million deal involving seven buildings at various Fairfield locations. This 2019 transaction was brokered by Nathin, and all properties involved – as is also the case with the warehouse at 140-142 Clinton Rd. – had been man- aged for more than two decades Simone Development Co. inks 5,111 s/f HACKENSACK, NJ — Simone Development Com- panies announced Hackensack Meridian Health has signed a new long-term lease of 5,111 s/f of medical office space at 385 Prospect Ave. in Hackensack, bringing the property to 97% occupancy. The lease was arranged by Josh Gopan , AVP of Leasing for Simone Development Com- panies and Patrick Eichner of Avison Young . Simone Development Compa- nies undertook a multi-million- dollar renovation after acquir- ing the property in 2017. The repositioning of the building included new lobbies, common areas, façade work and energy management upgrades, bring- ing the asset up to the quality standards Simone is known for throughout its portfolio of medi- cal office properties. Situated on 1.6 acres, the property offers parking for more than 200 ve- hicles as well as valet parking. “We are thrilled to provide New Jersey’s largest health network with state-of-the-art medical office space at 385 Prospect Avenue,” said Gopan. “Hackensack Meridian Health can rest assured they will be operating frompremier medical offices in a property providing first in class amenities such as valet parking and onsite man- agement.” MAREJ

140-142 Clinton Rd.

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SHELDON GROSS REALTY, INC. REALTORS ● Corporate Real Estate Services 80 Main Street, West Orange, NJ 07052 Tel. 973-325-6200 - Fax. 973-325-9090 www.sheldongrossrealty.com

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