The Blau & Berg Company, a prominent commercial real estate brokerage firm in the New Jersey and Tri-State area since 1932, recently arranged the sale of a ±64,121-SF industrial space on 9.25 acres on Stiger Street in Hackettstown, NJ. Jason M. Crimmins, CCIM, SIOR, Alessandro Conte, CCIM, SIOR, Peter J. Murano, Jr., SIOR, and Michael F. Schipper, SIOR, of The Blau & Berg Company represented the seller, Hackettstown Industrial Center.
“The Stiger Street facility is a true value play in which the new operator will benefit from a generous upside opportunity in market rents”, said Michael Schipper, Senior Executive Director with The Blau & Berg Company. “The western route 80 corridors have seen a resurgence of demand as of late and in retrofitting this facility to current standards, with plans to rework loading positions, truck court, floors, and lighting, the building lends itself to both the manufacturing and warehousing arena” Schipper added. “The property consists of three buildings, with high vacancy and ample parking adjacent to the NJ Transit rail; we believe there will be no shortage of viable candidates for the facility upon delivery. We are thrilled to have executed a well-timed exit strategy for our client”.
