Newmark Knight Frank announced Thursday the sale of a parcel of land in the Meadowlands submarket that can accommodate more than 110,000 square feet of warehouse/distribution space.
The 8 acre parcel of land is located at 1200 Wall St. West in Lyndhurst.
Brian Schulz, Kevin Welsh and Jason Emrani of NKF’s Tri-State Capital Markets Team represented the seller, 1200 Wall Holdings LLC, along with Dan Reider from NKF’s leasing team. The team also procured the buyer, Link Industrial Properties.
The buyer intends to redevelop 1200 Wall St. from a six-story, 186,846-square-foot office building into a distribution center.
“The extreme infill nature of the Meadowlands and unmatched demand for modern generation space is demonstrated by the continued redevelopment of alternative uses to industrial,” Brian Schulz, managing director, said. “This transaction provides Link the opportunity to further expand their industrial portfolio in the Meadowlands.”