A spec industrial development is coming to Sparta, after NAI James E. Hanson negotiated the sale of two lots in a new commerce park in the Sussex County municipality.
NAI Hanson’s John Schilp represented Berardi Developers, the seller of the sites at 2 and 4 Aaron Way in the White Lake Commerce Park. Starting in 2019, Schilp has facilitated the sale of the 12 lots making up the 31.54-acre property, with the last lot due to close in late March.
“Just a few years ago, Sussex County was far from front of mind when it came to spec industrial development,” Schilp said in a prepared statement. “However, record-high pricing to the east has forced developers and tenants to look to the area to meet their industrial real estate needs.”
The buyer, a Morris County-based developer, plans a 30,000-square-foot spec warehouse, NAI Hanson said in a news release. Spec industrial buildings in White Lake Commerce Center will range from 10,000 to 30,000 square feet, the real estate firm noted.
“Where once there stood a vacant lot, it has been a pleasure to work with owners and developers for the marketing and sale of these properties,” Schilp said.