An industrial building in Carlstadt has been sold, according to real estate firm Cushman & Wakefield.
The 100,627-square-foot property at 801 Washington Ave. was sold by Sitex Realty Group to Realterm. A C&W New Jersey capital markets team of Gary Gabriel, David Bernhaut, Kyle Schmidt and Ryan Larkin, with support from Chuck Fern and Thomas Tucci, represented the seller and procured the buyer in the deal.
“The asset’s superior high flow-through functionality makes this a great addition to our portfolio,” Realterm’s Ben Andreycak said in a prepared statement. “The facility’s location in the region’s most sought-after submarket with access to major roadway networks and population density make this an ideal property for HFT and final-mile users.”
Financial terms were not disclosed.
The property is fully leased to a credit tenant through 2029, C&W said.
“This property is ideally located minutes from Manhattan in the heart of the Meadowlands,” Gabriel said in a statement. “We saw strong interest as a result of the property’s functionality, central location relative to the New York MSA population, and abundant parking.”