The Stro Cos. made its first purchase of the year last week, buying a 70,000-square-foot multitenant industrial building in Florham Park, it announced.
The fully occupied building at 4 Vreeland Road its Stro’s ninth acquisition in 12 months, the company noted in a news release.
Financial terms were not disclosed.
“We are particularly proud of this acquisition, given the competitive nature of the industrial market,” Mitchel Kay, Stro’s chief operating officer and general counsel, said in a prepared statement. “Florham Park is another key infill/last mile market in the bustling northern New Jersey industrial and commercial landscape. Similar to many of our properties, the location services a densely populated and affluent area that already proves valuable to the current tenants.”
Larry Lerman of Lerman Sanders Realty brokered the deal, with Evan Glanz of E Glanz Associates serving as lead counsel. Signature Bank financed the transaction.
