Ridgewood-based The Stro Companies announced Tuesday it has acquired a 120,000-square-foot property in Wyckoff.
The purchase of 500 W. Main St. , an industrial building on 14 acres with 21-foot ceilings and ample parking, is the continuation of the commercial real estate agency’s “strategic and vigorous acquisition initiative,” it said.
“This acquisition provides another last mile distribution hub to our portfolio and accounts for the third Bergen County property in the past four months,” Mitchel Kay, chief operating officer and general counsel, Stro, said. “The location services a densely populated and affluent area that will undoubtedly attract new businesses keen to take advantage of that fact.”
The building is within close access to routes 208 and 4, and Interstate 287.
“Moreover, the building has easy access to and from the greater New York metro market and its ports,” Zach La Motta, director of leasing at Stro, said.
Kellen Murphy of Murphy Partners LLP served as lead counsel in closing the deal for Stro, which was financed by Millington Bank.
“We thank Kellen for his counsel and calm, effective demeanor to ensure a smooth closing. Moreover, we thank John Bailey and his team at Millington Bank, who were extraordinary, as always, to work with,” Kay said.