NAI James E. Hanson, a commercial real estate firm, announced the sale of a industrial building in Lodi to an international fabric company.
Mood Fabrics, a purveyor of quality fabrics and featured on Project Runway, purchased the property located at 39 Robinson Road. The acquisition will allow Mood to support its New York City retail location at 225 West 37th St. as well as fulfill online orders.
The space in Lodi is comprised of 73,373 square feet. It features 29-foot ceilings in 16,447 square feet of the building and 14-foot ceilings throughout the rest. It also has three tailgates and three drive-ins.
Scott Perkins, Andrew Somple, Greg James, Christopher Todd and Justin Allessio, all of NAI Hanson, represented the seller, AEW, in the deal.
The property is within close access to Routes 17, 80 and 46.
“What we are seeing in the Bergen County industrial market right now is a textbook definition of supply and demand in action,” Somple said. “Elevated demand from e-commerce retailers and distributors coupled with a limited supply of land and space, has led to record high sales prices for quality industrial assets like 39 Robinson. Despite high pricing, buyers continue to invest in the market and we were honored to work with AEW to market this building to secure a premium price in line with this asset’s value.”