SHORT HILLS, NJ, August 6, 2018
The Blau & Berg Company, a prominent commercial real estate brokerage firm in the New Jersey and Tri-State area since 1932, announced today the sale of a 100,400 SF industrial warehouse distribution facility located at 76-104 Third Avenue in Kearny, New Jersey. Jason M. Crimmins, CCIM, SIOR, Kenneth F. Crimmins, CCIM, SIOR and Michael Schipper, Director, represented the seller, LTL-RE Holding, LLC.
Located only 2 miles from Route 280, with proximity to Port Newark and Port Elizabeth, as well as easy access to the NJ Turnpike, Newark International Airport and the Meadowlands region, this 100,400 SF industrial property is in an ideal location. The property consists of four units on 5.4 acres, including 86,040 SF of warehouse space and 12,840 SF office. The property boasts an abundance of improved land for outdoor parking and storage, providing an attractive opportunity for tenants in need of warehousing with a highly sought-after land component.
“Demand for industrial space in New Jersey continues to grow with an increased interest in warehouses, logistics and last-mile delivery,” noted Michael Schipper. “Situated in an industrial zone in Kearny, and with key upgrades planned by new ownership, this property is an exceptional value-add investment opportunity.”
About The Blau & Berg Company
The Blau & Berg Company (www.blauberg.com) was founded in 1932 and holds a leading position in the New Jersey and Tri-State commercial real estate market. Headquartered in Short Hills, New Jersey, The Blau & Berg Company is an independent, full-service commercial real estate brokerage firm, providing expert and personalized services in industrial, office and retail real estate, including: site selection, acquisitions, dispositions, leasing, tenant representation, portfolio sales, asset repositioning, and property & construction management.