The Stro Companies announced recently it has acquired a two-property portfolio in Clifton.
The portfolio, which totals 55,000 square feet, is located at 499-515 River Road and consists of two buildings: a 30,000-square-foot industrial warehouse and a 25,000-square-foot industrial truck terminal.
The buildings are fully leased and are located within close access to Routes 21 and 3, and the Lincoln Tunnel.
“These two properties align perfectly with our acquisition criteria and allow us to grow our already strong footprint in the Clifton submarket,” Todd Minerley, director of acquisitions and leasing for Stro, said. “We are one of the most active investors in the New Jersey market resulting in our portfolio doubling in just over four years. The River Road properties will be our fourth acquisition in the last nine months.”
Financial terms were not disclosed.