M id A tlantic Real Estate Journal — Southern New Jersey — October 21 - November 17, 2022 — 11B S outhern NJ


Jerry Fennelly, SIOR, represents seller NAI Fennelly negotiates sale of 6 acres of Land in Mansfield, New Jersey


OLUMBUS, NJ — NAI Fennelly , one of New Jersey and Penn-

a variety of retail, office and medical uses, NAI Fennelly procured a buyer and helped its client maximize the value of the asset despite it being sold as is without approvals in place. “As more and more Baby Boomers look at retirement, the robust market seen for assets like vacant land across New Jersey provides an ideal capital generation tactic,” said Fen- nelly. “We were happy to work with our client to help them cre- ate value from this in-demand asset to achieve their personal financial goals. MAREJ

Fun Communications. Ray- mond Jones of Century 21 Advantage Gold served as co-broker on the transaction. Situated in northern Burl- ington County, 3130 Rte. 206 is an unimproved lot boast- ing 335’ of frontage on State Highway 206 with easy access to Interstates 95 and 295 as well as Exit 6 on the NJ Tpke. The former owner was hop- ing to utilize the sale of the asset to help fund their retire- ment and tapped NAI Fen- nelly to identify a buyer for the property. Building on its adaptability and approvals for

sylvania’s independent full-service commercial real estate service pro- viders has negotiated the sale of six acres of

Jerry Fennelly

land at 3130 Route 206 in Co- lumbus. NAI Fennelly’s Jerry Fennelly, SIOR , represented the seller John & Irene Nyk- tas, in the transaction with The STRO Cos. & Millstein Family office add to their Fairfield, NJ Portfolio FAIRFIELD, NJ — The STRO Companies (STRO) has announced closing on its acquisition of Lehigh Dr. in Fairfield. 123 Lehigh Dr. is a 45,000 s/f industrial building. The property is located off Rte. 46. The facility offers tenants the ability to have 24-foot clear ceil- ings, three loading docks and a fully air-conditioned facility in the heart of Fairfield. “We are proud to add 123 Le- high to our portfolio Said Jack Shulman , senior director of acquisitions and capital mar- kets for The STRO Companies. “Lehigh was an easy decision for us to move forward on. The property is directly adjacent to our building at 140 Clinton Rd. and less than a mile from two others. 123 Lehigh offers us long term value in a market we see a lot of potential in,” said Shulman. Both the seller and buyer were represented by David Zimmel of Zimmel Associ- ates . STRO’s director of leasing Elliot Ferris stated that STRO plans to bring the building to market immediately for lease. “Lehigh is a special building. There are not many like it in the market. It offers industrial tenants the rare opportunity to secure a facility with high ceilings and with full air con- ditioning. Given how scarce good industrial product is these days, we believe we will attract a wide pool of tenants that require a facility with the me- chanical capabilities of Lehigh,” said Ferris. MAREJ

3130 Route 206 in Columbus


The Haines Center offers direct immediate access to NJ Turnpike Exit 6A and the PA Turnpike connector. Onsite public transportation servicing the campus includes NJ Transit bus line stops, a NJ Transit RiverLine commuter rail station, and county shuttle transfer service from rail/bus stops to destinations within the Haines Center.

Industrial Real Estate | 856-764-2600 | www.whitesellco.com

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